87R8630 NC-F
By: Murr H.B. No. 2621
A BILL TO BE ENTITLED
AN ACT
relating to the limitation on the amount of a subcontractor's lien
for labor or materials.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 53.024, Property Code, is amended to
read as follows:
Sec. 53.024. LIMITATION ON SUBCONTRACTOR'S LIEN. The
amount of a lien claimed by a subcontractor may not exceed the
lesser of:
(1) an amount equal to the proportion of the total
subcontract price that the sum of the labor performed, materials
furnished, materials specially fabricated, reasonable overhead
costs incurred, and proportionate profit margin bears to the total
subcontract price,[;] minus
[(2)] the sum of previous payments received by the
claimant on the subcontract; or
(2) the contract price minus previous payments
received by the original contractor and the claimant on the
subcontract.
SECTION 2. The change in law made by this Act applies only
to an original contract entered into on or after the effective date
of this Act. An original contract entered into before the effective
date of this Act is governed by the law in effect on the date the
contract was entered into, and the former law is continued in effect
for that purpose.
SECTION 3. This Act takes effect September 1, 2021.