BILL ANALYSIS H.B. 534 By: Anchia Business & Industry Committee Report (Unamended) BACKGROUND AND PURPOSE Currently, under Property Code provisions, a person other than a tenant who cosigns or guarantees a lease is potentially liable for the duration of a tenant's lease term and subsequent renewals of the lease. H.B. 534 amends the Property Code to hold a person other than a tenant who cosigns or guarantees a lease liable only for the original lease term. RULEMAKING AUTHORITY It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution. ANALYSIS H.B. 534 amends the Property Code to restrict the duration of liability of a person other than a tenant who cosigns or guarantees a residential lease to only the original lease term. The bill establishes that a provision purporting to renew for an additional lease term the liability of a person other than a tenant who cosigns or guarantees a residential lease is void. EFFECTIVE DATE September 1, 2009.
BILL ANALYSIS
# BILL ANALYSIS
H.B. 534
By: Anchia
Business & Industry
Committee Report (Unamended)
H.B. 534
By: Anchia
Business & Industry
Committee Report (Unamended)
BACKGROUND AND PURPOSE Currently, under Property Code provisions, a person other than a tenant who cosigns or guarantees a lease is potentially liable for the duration of a tenant's lease term and subsequent renewals of the lease. H.B. 534 amends the Property Code to hold a person other than a tenant who cosigns or guarantees a lease liable only for the original lease term.
RULEMAKING AUTHORITY It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.
ANALYSIS H.B. 534 amends the Property Code to restrict the duration of liability of a person other than a tenant who cosigns or guarantees a residential lease to only the original lease term. The bill establishes that a provision purporting to renew for an additional lease term the liability of a person other than a tenant who cosigns or guarantees a residential lease is void.
EFFECTIVE DATE September 1, 2009.
BACKGROUND AND PURPOSE
Currently, under Property Code provisions, a person other than a tenant who cosigns or guarantees a lease is potentially liable for the duration of a tenant's lease term and subsequent renewals of the lease.
H.B. 534 amends the Property Code to hold a person other than a tenant who cosigns or guarantees a lease liable only for the original lease term.
RULEMAKING AUTHORITY
It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.
ANALYSIS
H.B. 534 amends the Property Code to restrict the duration of liability of a person other than a tenant who cosigns or guarantees a residential lease to only the original lease term. The bill establishes that a provision purporting to renew for an additional lease term the liability of a person other than a tenant who cosigns or guarantees a residential lease is void.
EFFECTIVE DATE
September 1, 2009.