Article 9 and lien-related legislation
No developments to report.
Other uniform laws legislation including the 2022 amendments to the Uniform Commercial Code (UCC) with UCC Article 12-Controllable Electronic Records
No developments to report.
Emerging technology legislation (blockchain, distributed ledger technology, cryptocurrency, etc.)
Michigan: House Bill 6147 was introduced on 11/14/2024 to adopt the Digital Asset Act. Among various provisions, this bill would (i) prohibit certain taxes on digital assets; (ii) establish a right to home digital asset mining; (iii) regulate digital asset mining businesses; and (iv) limit the use and acceptance of central bank digital currency as legal payment.
Ohio: Senate Bill 317 was introduced on 9/30/2024 to require a government entity to accept cryptocurrency as payment of any tax, fee, cost, charge, assessment, fine, or other amount owed the government entity. The bill also clarifies that certain government entities are authorized to invest in cryptocurrency.
Pennsylvania: House Bill 2481, which would prohibit state and local government restrictions on certain emerging technology transactions, passed the House on 10/23/2024 and was pending in the Senate when the legislature adjourned for the year on 11/13/2024. The bill would have prohibited government restrictions on a person’s ability to use a digital asset to purchase goods or services or maintain self-custody of a digital asset using a self-hosted wallet. The bill also would have prohibited state and local government from imposing additional taxes based solely on the use of a digital asset as a payment method or from restricting use of nodes to participate in blockchain activities.
Business organization legislation
No developments to report.
Notary legislation
California: The governor signed Assembly Bill 2004 on September 27, 2024 to authorize a notary public to certify that a tangible copy of an electronic record is an accurate reproduction of the electronic record. The new law also requires a recorder to accept for recording a tangible copy of an electronic record that has been so certified by a notary public if specified requirements are met. The new law takes effect on 1/1/2025.
District of Columbia: Bill 792, which would eliminate the requirement for a notary public to read and write in the language of any record on which the notary public performs a notarial act, passed the council on 11/12/2024 and is pending consideration by the mayor. This bill would also clarify that the training course for notary applicants must be approved but not provided by the mayor and require notarial officers to read and write in the same language as the notarial certificate executed by the officer.
Real estate recording-related legislation
Michigan: House Bill 5598, which would provide that a person who knowingly and willfully drafts or submits a fraudulent document to be filed and recorded with a register of deeds is guilty of a felony, passed the Senate on 10/23/2024 and was signed by the governor on 11/13/2024. When it takes effect, this law will make a violation of the act punishable by imprisonment for not more than 10 years, a fine of not more than $5,000 or both. The new law takes effect 90 days after adjournment.
New York: The governor signed Senate Bill 4289 on 9/27/2024 to authorize the county of Otsego to impose an additional mortgage recording tax of .25%. The new law took effect immediately.
New York: The governor signed Senate Bill 5780 on 9/27/2024 to authorize the county of Chenango to impose an additional mortgage recording tax of .25%. The new law took effect immediately.
Ohio: Senate Bill 331 was introduced on 11/13/2024 to require that certain liens filed with the county recorder include the obligor’s last known address that is not a PO box. The bill also requires recording of a memorandum of trust when title to real property is held by the trustee of a disclosed trust.
Texas: House Bill 191 was pre-filed for 2025 on 11/12/2024 to prohibit certain foreign entities from purchase or acquisition of real property in the state.
Texas: House Bill 403 was pre-filed for 2025 on 11/12/2024 to prohibit certain foreign entities and individuals from purchase or acquisition of real property in the state. A similar measure, Senate Bill 307, was pre-filed for 2025 in the Senate the same day.
Texas: House Bill 414 was pre-filed for 2025 on 11/12/2024 to make it a crime to present to another person a false, fraudulent or fictitious document purporting to be a lease, deed or other instrument conveying real property or an interest in real property with the intent to enter or remain on the real property. The bill also provides an expedited process to have the sheriff remove the unauthorized occupant. A similar bill was introduced the same day as HB 1076.
Texas: House Bill 733 was pre-filed for 2025 on 11/12/2024 to prohibit a seller or potential seller to enter into certain contracts for the sale of residential property unless the buyer has provided proof of citizenship or legal residency. The seller must also file an affidavit and copy of the contract with the county clerk within 30 days after execution of the contract.
Texas: House Bill 1043 was pre-filed for 2025 on 11/12/2024 to direct the General Land Office to conduct a study on establishing a pilot program for a distributed ledger based title registry. The study would be conducted through a working group composed of six different specific types of stakeholders but surprisingly omits electronic recording service providers.
Texas: House Joint Resolution 40 was pre-filed for 2025 on 11/12/2024 to amend the constitution to remove requirement that home equity loans can only be closed in the office of the lender, attorney at law, or a title company.
Texas: Senate Bill 103 was pre-filed for 2025 on 11/12/2024 to prohibit certain foreign entities and individuals from purchase or acquisition of real property in the state and from entering into certain contracts.
Other items and legislation of interest
No developments to report.
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Note that this update provides only a short summary of the listed bills, which are often lengthy and complex. It is not intended to include all potentially relevant provisions of each bill. For full details, please review the bill on the applicable state legislative web site.
