BILL ANALYSIS Senate Research Center H.B. 3389 82R19200 NC-D By: Workman (Watson) Business & Commerce 5/6/2011 Engrossed
BILL ANALYSIS
Senate Research Center H.B. 3389
82R19200 NC-D By: Workman (Watson)
Business & Commerce
5/6/2011
Engrossed
Senate Research Center
H.B. 3389
82R19200 NC-D
By: Workman (Watson)
Business & Commerce
5/6/2011
Engrossed
AUTHOR'S / SPONSOR'S STATEMENT OF INTENT Interested parties assert that a seller of residential real property is not required to provide enough disclosure regarding the seller's knowledge of the condition of the property, specifically with regard to the provision of natural gas or propane gas on the property. H.B. 3389 seeks to address the need for greater consumer protection in the form of transparency and better consumer awareness regarding the property a potential buyer is considering for purchase by amending the seller's disclosure the seller's disclosure notice to provide for the disclosure of information regarding the gas lines supplying liquid propane gas to the home, if applicable. H.B. 3389 amends current law relating to a seller's disclosure of natural or liquid propane gas on residential real property. RULEMAKING AUTHORITY This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 5.008(b), Property Code, to require that the seller's notice provided to the purchaser of residential real property be executed and, at a minimum, read substantially similar to certain language set forth in this subsection. SECTION 2. Makes application of this Act prospective. SECTION 3. Effective date: September 1, 2011.
AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
Interested parties assert that a seller of residential real property is not required to provide enough disclosure regarding the seller's knowledge of the condition of the property, specifically with regard to the provision of natural gas or propane gas on the property.
H.B. 3389 seeks to address the need for greater consumer protection in the form of transparency and better consumer awareness regarding the property a potential buyer is considering for purchase by amending the seller's disclosure the seller's disclosure notice to provide for the disclosure of information regarding the gas lines supplying liquid propane gas to the home, if applicable.
H.B. 3389 amends current law relating to a seller's disclosure of natural or liquid propane gas on residential real property.
RULEMAKING AUTHORITY
This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Section 5.008(b), Property Code, to require that the seller's notice provided to the purchaser of residential real property be executed and, at a minimum, read substantially similar to certain language set forth in this subsection.
SECTION 2. Makes application of this Act prospective.
SECTION 3. Effective date: September 1, 2011.