The Templar Knights were restored to the Church in 1979 under the name Christi Pauperum Militum Ordo, also known more simply as the Ordo Militiae Templi. It was founded in Siena and blessed by the Archbishop of that city (the current Cardinal Protector of the Militia is Édouard Gagnon). It was founded by Count Marcello Alberto Cristofani della Magione, who is also the current Grand Master.
The new Templars are faithful to the perennial traditions of the Church, and their members make the following committments: recite the traditional Divine Office daily in Latin, to recite the (traditional) Rosary daily in Latin, to assist the traditional Mass as frequently as possible, to study assiduously and live out the spirituality and culture of Christian chivalry, and, in general to invest our energies in the restoration of Catholic tradition. It is open to lay persons as well as ordained and religious.
There are currently preceptories established in Italy, Australia, Austria, Canada, Germany, Switzerland, United Kingdom and Ireland, Poland, Romania, Hungary, Spain, United States of America, and Puerto Rico. The American contact for the order is Bro. Charles Adams, CPMO (he can be reached at this address: firstname.lastname@example.org. Fellow Traditionalist Francisco Romero Carrasquillo, from the excellent blog Ite ad Thomam, is a postulant in this order, and it is from him that I got much of this information. Please pray for him and his wife as they prepare to enter this more excellent Catholic order.
Check out the Templar's website here for more information.