H.B. 503 Real Estate Modifications: transcript
Everything said about this bill in committee and on the floor, speaker by speaker. Each time links to that moment in the official video. Back to the bill: summary and every vote →
Transcribed from the Legislature's recordings by software, with speakers identified from the video; it can contain errors. Check the recording before quoting anyone.
House Judiciary Committee, Feb 19, 2026
- Committee chair (presiding)1:11:28
We'll go to the first item on our agenda house Bill 5 0 3 real estate modifications from Representative Loubet. And it looks like Representative Loubet that there's a first substitute online. Will we be speaking to that? That was a gender line. Vote Minus Jason.
- Rep. Anthony E. Loubet1:11:52
Yeah. Thank you. Mr. Chairman may present from here. Absolutely. Thank you. Um, so, uh, actually I've had, we had a good conversation with various stakeholders yesterday. And so, uh, we would like to actually move this to, uh, interim study item, if that's possible. Okay. Is that, is that gonna be the Presentation? Is That gonna be the presentation? Yeah, I would, the, the, the short presentation is that this bill, what we're trying to do is reduce the cost to consumers that are trying to, uh, buy homes. And so one way we're looking at, we've been looking at it, is, um, the cost that it could, uh, it you have to pay for title insurance and on mortgage costs. So, um, we're trying to have a global discussion on that. So my hope would be a motion that we can continue, um, discussions about ways we can reduce the, uh, fees that a purchaser has to pay, uh, during closing.
- Committee chair (presiding)1:12:48
Excellent. Thank you, Representative Loubet. Um, so we'll, let's do this. We'll do the same. We'll make sure we do the same process. Um, so the first, first we'll go to the committee for clarifying questions on Representative Loubet is presentation. Okay. Representative Gricius.
- Rep. Stephanie Gricius1:13:09
Thank you, Mr. Vice Chair. Um, does this have anything to do with banks and credit unions versus attorneys? No, not this one. Thank you.
- Committee chair (presiding)1:13:20
Okay. That concludes our clarifying questions portion. Is there anyone in the public who would like to speak to this bill? Not seeing anyone in person. Is there anyone online? No one online. We'll come back to the Committee for action.
- Rep. Lisonbee1:13:33
Representative Chair Libe, I move that we refer this to interim study. That that motion is an is in order.
- Committee chair (presiding)1:13:45
Would you like to speak to that?
- Rep. Lisonbee1:13:47
Just briefly? I appreciate, uh, the sponsor's work on this and I look forward to the global discussion.
- Committee chair (presiding)1:13:54
Excellent. Thank you. Chair Libe. Uh, we'll go back to the sponsor of the bill on the motion to send to interim study.
- Rep. Anthony E. Loubet1:14:02
I appreciate the motion. Excellent.
- Committee chair (presiding)1:14:04
We'll go to the committee for discussion on the motion to send an interim study Representative Gricius, oh, sorry, I can't turn it off. Okay. Sorry. All right. Seeing no further lights, we'll go back to the sponsor of the, uh, motion waive and she will waive, um, all We'll go ahead and do a voice vote. The motion in front of us is to, uh, recommend this bill to interim study. Um, we'll do a voice vote. All in favor of that, please say aye. Aye. Aye. Aye. Any opposed? All right. That is unanimous.
- Committee chair (presiding)1:14:44
All right. Officially turn it over. Sure. Yeah.
- Rep. Lisonbee (presiding)1:14:51
Alright. I'll just, um, take over so that Representative Clancy can present his bill,