86R13090 GRM-F
By: Gutierrez H.B. No. 3292
A BILL TO BE ENTITLED
AN ACT
relating to sale-leaseback transactions.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 341.001(9), Finance Code, is amended to
read as follows:
(9) "Loan" has the meaning assigned by Section 301.002
and includes [a sale-leaseback transaction and] a deferred
presentment transaction.
SECTION 2. Sections 341.001(10), 342.009, and 349.503,
Finance Code, are repealed.
SECTION 3. The changes in law made by this Act apply only to
a sale-leaseback transaction entered into on or after the effective
date of this Act. A sale-leaseback transaction entered into before
the effective date of this Act is governed by the law in effect on
the date the sale-leaseback transaction was entered into, and the
former law is continued in effect for that purpose.
SECTION 4. This Act takes effect September 1, 2019.