Christy Gessler, 2023 Texas REALTORS® Secretary/Treasurer, testified before the Senate State Affairs Committee on Thursday as members considered SB 147 and SB 711. Both those bills would limit the ability of foreign governments, people and entities from certain foreign countries to purchase real estate in Texas.
Gessler testified that REALTORS® continue to oppose both bills even after reviewing their committee substitutes. “Our members respect and support the need to ensure that our lands are protected from hostile actors; however, they have raised significant concerns with the legislation as originally filed, particularly as it related to the validity of title and the risk of running afoul of state and federal fair housing laws,” Gessler said of SB 147. “Even with the substituted language, we still have concerns about the impacts to nonpermanent residents and independent business entities, and we would like to continue to work with the author on those concerns.”
Gessler’s two-minute testimony was part of a 5.5-hour session in which lawmakers heard testimony from over 100 Texans about their perspectives on this critical issue. Both bills were left pending in committee, and the association will continue to work with bill authors to address numerous concerns.
Comments