Roberts Markel Weinberg Butler Hailey PC

The 89th?Texas Legislative Session has reached its halfway point. We now know legislators are considering over 50 POA related bills running the gambit from board structure and POA management to political flags and chickens. As the calendar inches towards April, committees are ramping up and hearings are beginning to determine what new laws may go into effect this fall. Get the full details on the bills and their statuses in our latest Legislative Update from Clint Brown at the link here: https://lnkd.in/g5_KaJX9 #texaslegislation #texashoalaw #texasrealestatelaw #texaspolitics

Nestled in the heart of Aggieland, Oldham Goodwin’s Greens Prairie Reserve strives to be the land of home. With that goal in mind, Lisa Gambrell and RMWBH’s Real Estate Development Team counsel the developer and board entities on all aspects of the governing documents, growth, and expansion plans for the community, and offer support through each phase of community development. Learn more about how Greens Prairie Reserve is nestled amongst a landscape of heritage oak trees and miles of trails on its website at this link - https://lnkd.in/gWwE-GtV

Today marks the close of bill filing for the 89th Texas Legislative Session. As of the time of this post, the legislature will be considering over 50 bills that could bring changes to the POA industry that includes board election procedures, caps on assessment increases and chickens. Get the details on each POA related bill and where the bill stands in the legislative process from Sipra Boyd in a webinar on March 19th. Register for our Legislative Update webinar at this link: https://lnkd.in/ggK_FDq9

Texas Legislative Action Committee’s biannual Rally Day was a smashing success once again. RMWBH team members Sipra Boyd, Clint Brown, Noelle Hicks and Cherie Wilson spent a great day with community managers and board members from across Texas walking around the Capitol, visiting with legislators and discussing the issues facing the POA industry in the 89th Texas Legislative Session. Thank you to TLAC for all of its organizational efforts. We cannot wait to participate again in 2027! #tlac #rallyday #texaslegislativesession

On March 2, the U.S. Department of the Treasury announced it will no longer pursue enforcement action with respect to the Corporate Transparency Act against U.S. citizens or domestic reporting companies, including after the forthcoming rule changes take effect. This means qualifying domestic reporting companies, which includes most POAs, and U.S. citizens do not have to comply with the requirements of the CTA and will not face penalties or fines. However, qualifying reporting companies should note this is only an enforcement decision by the current administration of the Treasury Department. The CTA remains “on the books” as law and future administrations could decide to enforce the requirements of the forthcoming rule changes, potentially subjecting qualifying reporting companies, and their beneficial owners, to criminal and financial penalties. To read the Treasury Department’s full statement, please follow this link: https://lnkd.in/g4eGb8yB

CTA UPDATE: On February 27, FinCEN announced it would not pursue enforcement action against any qualifying reporting entity for failure to file or update its beneficial owner information until a forthcoming interim final rule becomes effective. FinCEN states “No later than March 21, 2025, FinCEN intends to issue an interim final rule that extends BOI reporting deadlines, recognizing the need to provide new guidance and clarity as quickly as possible, while ensuring that BOI that is highly useful to important national security, intelligence, and law enforcement activities is reported.” While enforcement is not currently ongoing, it will soon begin. Qualifying reporting companies, including many POAs, should continue filing their BOI reports in order to meet the final deadline when that is released. Read FinCEN's full release at this link: https://lnkd.in/eEuXE2Gg

ICYMI: The state of the law on the CTA has changed once again. Specifically, the prior nationwide injunction issued in Smith v. U.S. Department of Treasury was stayed. This means that the Financial Crimes Enforcement Network (FinCEN) can now enforce the CTA, and reporting companies are required to file beneficial ownership information (BOI) reports under the CTA. Get up-to-date on what’s next, including the new deadline date, from Justin Markel at this link: https://lnkd.in/g9BWykYF #cta #corporatetransparencyact #fincen

CTA UPDATE: The rollercoaster ride known as the Corporate Transparency Act (CTA) continues for businesses nationwide. On February 18, the United States District Court for the Eastern District of Texas overturned Smith v. U.S. Department of the Treasury, citing the previous U.S. Supreme Court order. This means enforcement of the CTA by the U.S. Department of Treasury is resuming. In its latest alert, FinCEN states it understands reporting companies may need additional time to comply with their beneficial owner information reporting obligations. Therefore, FinCEN has extended the deadline for compliance by 30 days. from today, February 19, 2025. The new deadline to comply with the CTA is March 21, 2025 FinCEN states, "Notably, in keeping with Treasury’s commitment to reducing regulatory burden on businesses, during this 30-day period FinCEN will assess its options to further modify deadlines, while prioritizing reporting for those entities that pose the most significant national security risks." The full alert, along with other information about the CTA can be found at this link: https://fincen.gov/boi This remains a fluid situation. The United States Fifth Circuit Court of Appeals hearing in Texas Top Shop, Inc. v. McHenry remains scheduled for March 25, 2025. In addition, multiple bills are before the United States Congress to either overturn or delay the CTA. Until a final decision is made by the courts or Congress, the law requires businesses that are not exempt, including POAs, to submit beneficial owner information by March 21st.

Thank you to everyone who made this week’s special Valentine’s event in RMWBH’s Frisco office a success. It was a great evening filled with food, drinks and making connections through networking. Congratulations to all of the winners of our giveaway items. We hope to see everyone again at a future event!

RMWBH is honored to collaborate with AIRIA Development? Company on their landmark development, Colton. The RMWBH Real Estate Development team led by Shareholder Lisa Gambrell works diligently with the AIRIA team to craft governing documents, counsel the Colton developer and board entities on and through growth plans for the community and offer support through each phase of community development. Part of what makes Colton unique in the real estate industry is its plans to develop across a three-county area over the next 20 years. This 5,700-acre community in Todd Mission provides quintessential Texas living to homebuyers who want a laid-back lifestyle while having access to big city amenities. RMWBH takes great pride in knowing the collaborative effort between Lisa’s team and Airia are helping to develop a community that will live on in generations to come. Learn more about Colton at their website at this link: https://coltontx.com/