Texas Department of Transportation
Title 43, Part 1
In accordance with Texas Government Code, §2001.039, the Texas Department of Transportation (department) files this notice of intention to review 43 TAC Part 1, Chapter 30, Aviation, and Chapter 31, Public Transportation.
The department will accept comments regarding whether the reasons for adopting these chapters continue to exist. The comment period will last 30 days beginning with the publication of this notice of intention to review.
Comments regarding this rule review may be submitted in writing to Bob Jackson, General Counsel, Texas Department of Transportation, 125 East 11th Street, Austin, Texas 78701-2483.
TRD-200803277
Bob Jackson
General Counsel
Texas Department of Transportation
Filed: June 23, 2008
Title 31, Part 10
The Texas Water Development Board will review 31 Texas Administrative Code, Part 10, Chapter 354, Memoranda of Understanding, in accordance with Texas Government Code §2001.039.
The Board will accept comments and make a final assessment regarding whether the reason for adopting each of the rules in 31 TAC Chapter 354 continues to exist. The comment period will end at 5:00 p.m., 30 days after this notice is published in the Texas Register.
Comments regarding this rule review may be submitted by email to rulescomments@twdb.state.tx.us, by fax: at (512) 463-5580 or by mail: Legal Services, Texas Water Development Board, P.O. Box 13231, Austin, Texas 78711-3231.
TRD-200803324
Ken Petersen
General Counsel
Texas Water Development Board
Filed: June 25, 2008
The Texas Water Development Board will review 31 Texas Administrative Code, Part 10, Chapter 363, Financial Assistance Programs, in accordance with Texas Government Code §2001.039.
The Board will accept comments and make a final assessment regarding whether the reason for adopting each of the rules in 31 TAC Chapter 363 continues to exist. The comment period will end at 5:00 p.m., 30 days after this notice is published in the Texas Register.
Comments regarding this rule review may be submitted by email to rulescomments@twdb.state.tx.us, by fax: at (512) 463-5580 or by mail: Legal Services, Texas Water Development Board, P.O. Box 13231, Austin, Texas 78711-3231.
TRD-200803325
Ken Petersen
General Counsel
Texas Water Development Board
Filed: June 25, 2008
The Texas Water Development Board will review 31 Texas Administrative Code (TAC), Part 10, Chapter 364, Model Subdivision Rules, in accordance with Texas Government Code §2001.039.
The Board will accept comments and make a final assessment regarding whether the reason for adopting each of the rules in 31 TAC Chapter 364 continues to exist. The comment period will end at 5:00 p.m., 30 days after this notice is published in the Texas Register.
Comments regarding this rule review may be submitted by email to rulescomments@twdb.state.tx.us, by fax: at (512) 463-5580 or by mail: Legal Services, Texas Water Development Board, P.O. Box 13231, Austin, Texas 78711-3231.
TRD-200803326
Ken Petersen
General Counsel
Texas Water Development Board
Filed: June 25, 2008
The Texas Water Development Board will review 31 Texas Administrative Code (TAC), Part 10, Chapter 367, Agricultural Water Conservation Program, in accordance with Texas Government Code §2001.039.
The Board will accept comments and make a final assessment regarding whether the reason for adopting each of the rules in 31 TAC Chapter 367 continues to exist. The comment period will end at 5:00 p.m., 30 days after this notice is published in the Texas Register.
Comments regarding this rule review may be submitted by email to rulescomments@twdb.state.tx.us, by fax: at (512) 463-5580 or by mail: Legal Services, Texas Water Development Board, P.O. Box 13231, Austin, Texas 78711-3231.
TRD-200803327
Ken Petersen
General Counsel
Texas Water Development Board
Filed: June 25, 2008
The Texas Water Development Board will review 31 Texas Administrative Code (TAC), Part 10, Chapter 370, Colonia Plumbing Loan Program, in accordance with Texas Government Code §2001.039.
The Board will accept comments and make a final assessment regarding whether the reason for adopting each of the rules in 31 TAC Chapter 370 continues to exist. The comment period will end at 5:00 p.m., 30 days after this notice is published in the Texas Register.
Comments regarding this rule review may be submitted by email to rulescomments@twdb.state.tx.us, by fax: at (512) 463-5580 or by mail: Legal Services, Texas Water Development Board, P.O. Box 13231, Austin, Texas 78711-3231.
TRD-200803328
Ken Petersen
General Counsel
Texas Water Development Board
Filed: June 25, 2008
Title 7, Part 6
The Credit Union Commission has completed the review of 7 TAC §91.7000, relating to Certificates of Indebtedness. Notice of the proposed review was published in the February 29, 2008, issue of the Texas Register (33 TexReg 1819).
The rule was reviewed as a result of the Department's general rule review.
The Commission received no comments with respect to this rule. The Department believes that the reasons for initially adopting this rule continue to exist. The Commission finds that the reasons for initially adopting §91.7000 continue to exist and readopts this section without changes pursuant to the requirements of Texas Government Code §2001.039.
TRD-200803245
Harold E. Feeney
Commissioner
Credit Union Department
Filed: June 23, 2008
The Credit Union Commission has completed the review of 7 TAC §91.8000, relating to Discovery of Confidential Information. Notice of the proposed review was published in the February 29, 2008, issue of the Texas Register (33 TexReg 1819).
The rule was reviewed as a result of the Department's general rule review.
The Commission received no comments with respect to this rule. The Department believes that the reasons for initially adopting this rule continue to exist. The Commission finds that the reasons for initially adopting §91.8000 continue to exist and readopts this section without changes pursuant to the requirements of Texas Government Code, §2001.039.
TRD-200803246
Harold E. Feeney
Commissioner
Credit Union Department
Filed: June 23, 2008
Title 7, Part 8
The Finance Commission of Texas and the Texas Credit Union Commission ("commissions") have completed the review of Texas Administrative Code, Title 7, Part 8, Chapter 151, relating to Home Equity Lending Procedures, comprised of §§151.1 - 151.8, and Chapter 153, relating to Home Equity Lending, comprised of §§153.1 - 153.5, 153.7 - 153.18, 153.20, 153.22, 153.24, 153.25, 153.41, 153.51, 153.82, 153.84 - 153.88, and 153.91-153.96, pursuant to Texas Government Code, §2001.039.
Notice of the review of 7 TAC Part 8, Chapters 151 and 153 was published in the Texas Register as required on February 1, 2008 (33 TexReg 952). The commissions believe that the reasons for initially adopting the rules contained in these chapters continue to exist. As a result of comments received on the proposed rules review notice, the commissions have determined that certain revisions are appropriate and necessary.
The commissions are proposing technical amendments to §§151.1, 151.3, 151.7, and 151.8. These amendments are being proposed in the absence of any comment. The proposed amendments to the affected sections within Chapter 151 are being concurrently published in the Proposed Rules section in this issue of the Texas Register and will be open for an additional 31-day public comment period prior to final adoption or repeal by the commissions.
Concerning Chapter 153, the commissions received three written comments in response to the notice from the Independent Bankers Association of Texas ("IBAT") requesting specific changes to existing interpretations. Summaries of the comments and the commissions' responses to the three comments by IBAT are contained in the following paragraphs. The proposed amendments to the affected sections within Chapter 153 are being concurrently published in the Proposed Rules section in this issue of the Texas Register and will be open for an additional 31-day public comment period prior to final adoption or repeal by the commissions. Please note that the full rule text of all proposed amendments referenced in the following paragraphs is provided in conjunction with the separate proposed rulemaking notice published in the Proposed Rules section in this issue of the Texas Register.
Regarding §153.11, the commenter states: "[I]t would be helpful if there were clarity as to how to count the two month period by which payments must begin. . . . . Bankers have asked whether they should begin counting from the date of closing or the date of funding." The commenter continues by stating: "Another issue that is relevant is whether the first payment should be on the same day as the closing or funding."
The commissions agree that clarification would be beneficial to both lenders and borrowers concerning the calculation of the constitutional period of "two months" in relation to the repayment schedule. Accordingly, the commissions propose two amendments to §153.11 to address these issues. First, the commissions propose the addition of paragraph (1), which states: "The two month time period contained in Section 50(a)(6)(L)(i) begins on the date of closing." Second, the commissions also propose new paragraph (2), which provides that "a month is the period from a date in a month to the corresponding date in the succeeding month." Following this basic definition are two examples to address months with different numbers of days.
The definition of "month" and corresponding examples track those provided under Texas Finance Code, Subtitle B, §341.002. While the majority of home equity loans are subject to Subtitle A of the Texas Finance Code, there are some home equity loans that do fall under Subtitle B. Thus, in order to avoid any inconsistency for those Subtitle B home equity loans, the commissions believe that use of the same principles found in §341.002 concerning the calculation of a month as contained in proposed §153.11(2) would be most appropriate.
In reference to §153.14, the commenter states: "One issue that should be addressed is that the modification with new terms should result again in substantially equal payments." The commissions agree with the commenter and propose the addition of the following clarifying sentences to §153.14(2): "A home equity loan and a subsequent modification will be considered a single transaction. The home equity requirements of Section 50(a)(6) will be applied to the original loan and the subsequent modification as a single transaction." In other words, any modification of a home equity loan must still follow all constitutional home equity provisions.
Also with regard to §153.14, the commenter believes that "since the modification is simply a part of the original transaction, the 3% fee cap would apply for the original loan plus modification. In other words, there would not be a new 3% fee cap for the modification." The commissions agree with the commenter's position on this issue, as a modified home equity loan is still the same loan, same transaction. Accordingly, the commissions propose the addition of new subparagraph (D) to §153.14(2) as follows: "The 3% fee cap required by Section 50(a)(6)(E) applies to the original home equity loan and any subsequent modification as a single transaction."
And finally, the commenter also presents the following question related to §153.14: "If an applicant closes a home equity loan and then rescinds, does the applicant have to wait a year after the closing to close another home equity loan?" The commenter further states: "In the case of a rescinded loan, there is nothing to roll over. No funds were advanced. No payments were due or owed. No lien existed on the homestead. The bottom line is: A borrower should be able to rescind a loan with a lender and then immediately go to another lender to get a home equity loan."
The commissions agree with the rationale and result outlined by the commenter on this issue regarding rescinded home equity loans. The commissions, however, believe that the current language found in §153.14 results in the answer to this question being self-evident. The first sentence of existing §153.14 states (emphasis added): "An equity loan may not be closed before the first anniversary of the closing date of any other equity loan secured by the same homestead property." The key word in the quoted sentence is "secured." As stated by the commenter, "[n]o lien existed on the homestead." Without a lien, the rescinded loan would not be "secured by the same homestead property." Thus, the commissions decline to propose an amendment to the interpretation on this issue, as it is not necessary due to clarity of the current language.
Concerning §153.51, the commenter "recommend[s] that 7 TAC 153.51 be amended by adding a new subparagraph 4 dealing with the Spanish translation of the consumer notice." The commenter offers two possible alternatives for the new subparagraph, with one option containing the text of the notice, and the second option stating that the notice would be made available through an agency webpage or upon written request.
The commissions agree with the commenter's concept of adding a reference to permissible reliance on the Spanish translation of the consumer notice, as developed under Texas Finance Code, §341.502. The commissions prefer the commenter's second alternative but believe that availability via the internet will be sufficient. Therefore, the commissions propose the addition of §153.51(4) as follows: "A lender whose discussions with the borrower are conducted primarily in Spanish may rely on the translation of the consumer notice developed under the requirements of Texas Finance Code, §341.502. Such notice shall be made available to the public through publication on the Finance Commission's webpage."
In addition, as a result of comments received in response to previously proposed amendments to §§153.22, 153.51, and 153.84, the commissions are proposing amendments to §153.12 and §153.13 in order to further conform with the constitutional changes in Section 50, as amended effective December 4, 2007, pursuant to voter approval of Proposition 8 (House Joint Resolution Number 72), proposed in the 80th Texas Legislative Session. Therefore, the proposed amendments to §§153.11 - 153.14 and §153.51 are being concurrently published in the Proposed Rules section in this issue of the Texas Register as a separate action, stemming in part from rule review comments and in part from comments received on previously proposed amendments.
Any questions or written comments pertaining to the proposed amendments (published elsewhere in this issue) resulting from this rule review should be directed to Sealy Hutchings, General Counsel, Office of Consumer Credit Commissioner, 2601 North Lamar Boulevard, Austin, Texas 78705-4207 or to Betsy Loar, General Counsel, Texas Credit Union Department, 914 East Anderson Lane, Austin, Texas 78752-1699, or by email to sealy.hutchings@occc.state.tx.us or to betsy.loar@tcud.state.tx.us.
Subject to the proposed amendments to Chapters 151 and 153, the commissions find that the reasons for initially adopting these rules continue to exist, and readopts these chapters in accordance with the requirements of Texas Government Code, §2001.039.
This concludes the review of 7 TAC Part 8, Chapters 151 and 153.
TRD-200803220
Leslie L. Pettijohn
Consumer Credit Commissioner
Joint Financial Regulatory Agencies
Filed: June 20, 2008