The Texas Association of REALTORS® (TAR) Political Action Committee (TREPAC) supports policies and politicians that support private-property rights and the real estate industry. It backs local, state, and national candidates and elected officials who have a record of protecting private-property rights, preserving the dream of homeownership, and supporting the real estate industry. Every legislative session of the Texas Legislature, TAR staff and Texas REALTOR® volunteers read every bill and work with lawmakers to promote and protect private-property and homeowner rights. Just some of TREPAC’s successes are as follows:
- 1993 – Seller Disclosure. Required a seller of residential property to use a promulgated property-condition disclosure form, thereby decreasing liability for real estate licensees.
- 1997 – Homeowners Equity. Authored a constitutional amendment protecting a homeowner’s equity by requiring an 80% loan-to-value ratio on refinances, preventing borrowers from becoming upside down on their home loan.
- 1999 – Licensing of Mortgage Brokers. Established a much-needed consumer-protection statute requiring the mandatory licensing of mortgage brokers.
- 2001 – Sales Tax. Killed legislation that would have levied an 8% sales tax on the sale of all real property – commercial, residential, farm and ranch, industrial, raw land – all of it.
- 2003 – Transfer Tax. Defeated a proposal which would have created a 1% real estate transfer tax on the sale or lease of all real property.
- 2005 – Tax on Personal Autos. Prevented a property tax from being imposed on personal vehicles also used in your business.
- 2009 – Real Estate Tax. Defeated multiple proposals to tax real estate, including several bills requiring the creation of a tax on every deed recorded by the county clerk.
- 2011 – Transfer Fees. Passed a measure that eliminates most private transfer fees on real estate transactions.