FORTY-NINTH LEGISLATURE

FIRST SESSION, 2009

February 17, 2009

Mr. Speaker:

    Your CONSUMER AND PUBLIC AFFAIRS COMMITTEE, to whom has been referred

HOUSE BILL 488

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

     1. On page 14, between lines 10 and 11, insert the following new subsection:

          "F. Title insurance policies purchased in association with the acquisition of title to property by the United States that is held in trust for a federally recognized Native American tribe or pueblo shall be issued subject to the current premium rates for the original issuance of a title insurance policy on the same property, for an amount equal to the reduced liability limit for the acquisition provided for by the United States department of justice, unless a higher liability amount is required by the United States.".

     2. Reletter the succeeding subsections accordingly.,

and thence referred to the BUSINESS AND INDUSTRY COMMITTEE.