New Texas Laws 2024: Everything You Need to Know

Key Highlights of the New Laws

News: As Texas approaches the onset of 2024, it is set to roll out thirty fresh laws starting January 1. These laws span diverse sectors such as tax rules, juvenile diversion strategies, online notarization, and specialized license plate provisions. The introduction of these laws follows a rigorous year for Texas legislators, marked by five additional month-long sessions during the 88th legislative period.

Implications for Property Owners and Businesses

Changes in property taxes and the elimination of diversity-focused programs at public universities will impact both property owners and businesses. Moreover, the $18 billion property tax relief initiative includes raising the franchise tax exemption to approximately $2.5 million, offering advantages to small and mid-sized businesses.

Significant Changes in Taxation and Real Estate

One legislation, HB 456, seeks to waive ad valorem taxation for particular mineral interests owned by select charitable entities. Meanwhile, HB 1228 focuses on the guidelines for sharing information as outlined in the Property Tax Code. Additionally, HB 1285 delves into the duties and training protocols for a taxpayer liaison officer within an appraisal district. Lastly, HB 2354 examines the criteria under which land passed to a surviving spouse maintains its eligible open-space designation for ad valorem tax evaluation.

Innovation in Notarization and Real Estate

The recent legislation brings forward advancements in notarization and real estate, with SB 1780 specifically focusing on online notarizations to align with the state’s push towards digital progress. Furthermore, these laws instigate modifications within the Texas Real Estate Research Center, the Texas Real Estate Commission, and associated bodies, sanctioning payments and elevating fees as components of the regulatory adjustments.

Strengthened Measures Against Underage Tobacco Consumption

HB 4758 focuses on banning certain e-cigarette items, showcasing the state’s firmer position against underage tobacco use. This legislation makes it illegal to sell e-cigarettes to individuals below the legal age, striving to shield young individuals from the detrimental impacts of tobacco substances.

Upcoming Changes in Texas

As Texas advances into 2024, these legislations underscore the state’s dedication to tackling both societal and economic challenges, ranging from tax adjustments to public health matters. The repercussions of these laws will resonate across multiple industries, showcasing the state’s flexibility and willingness to adopt digital innovations, especially in notarization methods.

The upcoming laws slated for implementation in Texas for 2024 showcase the state’s forward-thinking strategy in tackling diverse concerns, encompassing taxation, public health, and real estate. These legislative shifts will be instrumental in molding the state’s trajectory, underscoring Texas’s dedication to advancement and innovation across different sectors.

FAQs

Which areas do the 2024 Texas legislations primarily focus on?

The 2024 Texas legislations primarily concentrate on aspects such as tax regulations, plans for diverting juvenile offenders, provisions for internet notarization, and the introduction of specialty license plates.

How might the 2024 Texas legislations affect property proprietors and commercial entities?

The 2024 Texas legislations could impact property owners and businesses by adjusting property tax structures, eliminating diversity-driven programs from state colleges, and significantly raising franchise tax exemptions to support small and medium-sized businesses.

What initiatives have been put forth in Texas to combat underage tobacco use?

In Texas, HB 4758 has been enacted to intensify efforts against underage tobacco use. This legislation prohibits the sale of certain e-cigarette products to minors, underscoring the state’s dedication to shielding young individuals from the detrimental effects of tobacco consumption.