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