| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 87R4948 DRS-D | |
| 2 | 2 | By: Holland H.B. No. 1562 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to required notice concerning special districts in certain | |
| 8 | 8 | Texas Real Estate Commission contract forms. | |
| 9 | 9 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 10 | 10 | SECTION 1. Section 1101.155, Occupations Code, is amended | |
| 11 | 11 | by adding Subsections (d) and (e) to read as follows: | |
| 12 | 12 | (d) A contract form adopted by the commission for use in the | |
| 13 | 13 | sale and conveyance of real property located in a special district | |
| 14 | 14 | must include notice of: | |
| 15 | 15 | (1) the name, type, and purpose of the district; | |
| 16 | 16 | (2) the rate of any ad valorem tax or assessment | |
| 17 | 17 | imposed by the district in the preceding tax year; and | |
| 18 | 18 | (3) the dollar amount of any ad valorem taxes or | |
| 19 | 19 | assessments imposed by the district on the appraised value of the | |
| 20 | 20 | property in the preceding tax year. | |
| 21 | 21 | (e) In this section, "special district" has the meaning | |
| 22 | 22 | assigned by Section 178.001, Local Government Code. | |
| 23 | 23 | SECTION 2. Not later than December 1, 2021, the Texas Real | |
| 24 | 24 | Estate Commission shall update contract forms to comply with | |
| 25 | 25 | Section 1101.155(d), Occupations Code, as added by this Act. | |
| 26 | 26 | SECTION 3. This Act takes effect September 1, 2021. |