| 1 | 1 | | 88R3062 ATP-D |
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| 2 | 2 | | By: Hinojosa H.B. No. 1056 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the registration of financial institutions and |
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| 8 | 8 | | investment firms that lease residential real property. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Subchapter E, Chapter 92, Property Code, is |
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| 11 | 11 | | amended by adding Section 92.209 to read as follows: |
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| 12 | 12 | | Sec. 92.209. REGISTRY OF CERTAIN LANDLORDS. (a) In this |
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| 13 | 13 | | section: |
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| 14 | 14 | | (1) "Financial institution" has the meaning assigned |
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| 15 | 15 | | by Section 201.101, Finance Code. |
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| 16 | 16 | | (2) "Investment firm" means a corporation or trust |
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| 17 | 17 | | engaged in the business of investing the pooled capital of |
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| 18 | 18 | | investors in financial securities. |
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| 19 | 19 | | (b) A financial institution or investment firm that owns and |
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| 20 | 20 | | offers for lease a dwelling in this state must register with the |
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| 21 | 21 | | comptroller. The registration must contain the name of the |
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| 22 | 22 | | institution or firm, the number of dwellings owned in each county, |
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| 23 | 23 | | and any other information required by the comptroller by rule. |
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| 24 | 24 | | (c) The comptroller shall compile and maintain the |
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| 25 | 25 | | information in a registry that is available in a searchable format |
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| 26 | 26 | | on its Internet website. |
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| 27 | 27 | | (d) The comptroller may notify any appropriate regulatory |
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| 28 | 28 | | authority regarding a person's failure to register as required by |
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| 29 | 29 | | Subsection (b). |
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| 30 | 30 | | (e) The comptroller shall adopt rules as necessary to |
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| 31 | 31 | | implement and administer this section, including rules |
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| 32 | 32 | | establishing deadlines for registration under this section. |
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| 33 | 33 | | SECTION 2. This Act takes effect January 1, 2024. |
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