Governor Signs Legislation Benefiting Home Buyers into Law
On June 14 and 15 Governor Greg Abbott signed more legislation into law that should help home buyers seek attainable homes and a choice in products to use.
On June 14, HB 2439 was signed into law. It allows a city to enact building codes with local amendments but prohibits the use of those building codes or other local ordinance powers to dictate vendor driven and product specific mandates in construction, which restrict the use of attractive products and methods that are approved by national codes and standards, as well as increase the price of a home. The law is effective Sept. 1, 2019.
On June 15, Governor Abbott signed HB 1743 into law, reducing impacts of the agriculture roll-back (or claw back) tax on future homebuyers and renters. It lowers the number of years that the agriculture roll-back tax is due from 5 years to 3 years and lowers the interest rate owed on those back taxes from 7 to 5%. By reducing the burden of the agriculture exemption roll-back tax on landowners, builders and developers, new homes on those properties face less of a cost challenge. The law is effective Sept. 1, 2019.
On May 21, the Governor signed HB 852 into law. The Dallas BA priority legislation, which became effective immediately, prohibits municipalities from considering the value of a dwelling or the cost of constructing or improving a dwelling to determine the amount of permit or inspection fees charged. The bill also prevents municipalities from requiring disclosure of information related to the value of or cost of constructing or improving a residential dwelling as a condition for obtaining a building permit, except as required by the Federal Emergency Management Agency for participation in the National Flood Insurance Program.