The Middleton ReportTWIA Legislation set to be heard next weekThis session, the Texas Windstorm Insurance Association (TWIA) is under the microscope, as it is up for Sunset Review by the Legislature–meaning there is momentum for significant reform of the agency this session. As a part of this reform effort, I have filed numerous bills aimed at controlling rates and protecting customers. This is of vital importance to the taxpayers and homeowners of Galveston and Chambers Counties. Three of my bills will be heard next Tuesday in the House Insurance Committee. These bills are:House Bill 1772: which places a 2.5% cap on TWIA rates and requires a board supermajority to raise above that rate.House Bill 3123: Removes a provision requiring a federal Flood Insurance policy be held to purchase a TWIA policyHouse Bill 3038: Requires TWIA member insurers to provide reinsurance to the association instead of TWIA buying reinsurance from 3rd parties. (this reform is key to reducing rates)I am hopeful that these bills can make their way into law and provide meaningful reform of this insurer of last resort for the Gulf Coast. If you interested in testifying for these bills on Tuesday, please reply to this email and let me know.
House Bill 3 passed the HouseOn Wednesday of this week, the Texas House passed House Bill 3, which overhauls the state’s school finance system. While not perfect, this legislation does a great deal to address several issues present with the current model of public school finance. First and foremost, the bill begins to reduce the amount of funds certain school districts send to the state through the redistribution scheme known as “Robin Hood”. In House District 23 alone, all school districts currently paying Robin Hood will experience a reduction in Robin Hood “recapture” payments to the state. Barber’s Hill ISD will have its recapture reduced, Texas City ISD will have its recapture mandate eliminated, and Galveston ISD will go from $28 million a year in recapture payments to $19 million. The bill also provides a school district tax rate compression of $2.8 billion to provide much-needed school district property tax relief. I look forward to seeing school finance reform with significant property tax relief and a path toward the elimination of Robin Hood become law this session.
Mayes Middleton, along with his wife, Macy, and three sons, Connor, Christian, and Matthew, live in Wallisville, Texas. Mayes is a 7th generation Chambers County resident and Texan. Mayes is President of Middleton Oil Company, an independent oil and gas company that operates wells in South Texas and along the Gulf Coast, and is engaged in joint exploration ventures. In addition to his work in the oil and gas industry, Mayes also runs his ranching, cattle, and farming operations. He and his wife support numerous local community organizations and faith based charities. For more information please visit www.mayesmiddleton.com.
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