Bill > HB1043

This bill directs the Texas General Land Office to conduct a comprehensive study on establishing a distributed ledger-based title registry pilot program, which essentially means exploring how blockchain technology could be used to record and track property titles. The study will involve creating a working group with representatives from counties, title insurance companies, the banking industry, the Texas Department of Insurance, and the blockchain industry to examine the potential implementation of this technology. The pilot program must include at least two counties (one rural and one urban) and evaluate various aspects such as costs, security, transparency, and compatibility with existing systems. The study aims to develop implementation protocols, identify potential funding sources, and determine how to integrate distributed ledger technology with current property title recording methods without disrupting existing processes. The General Land Office is required to adopt rules by October 1, 2025, submit a report to the legislature by January 1, 2027, with findings and recommendations, and the entire initiative will expire on September 1, 2027. The bill's ultimate goal is to assess the feasibility and potential benefits of using blockchain technology to create a more efficient, secure, and transparent property title recording system.

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https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB1043