| 2 | | - | (In the Senate - Filed March 14, 2025; April 3, 2025, read |
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| 3 | | - | first time and referred to Committee on Local Government; |
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| 4 | | - | May 7, 2025, reported adversely, with favorable Committee |
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| 5 | | - | Substitute by the following vote: Yeas 7, Nays 0; May 7, 2025, sent |
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| 6 | | - | to printer.) |
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| 7 | | - | COMMITTEE SUBSTITUTE FOR S.B. No. 2764 By: Nichols |
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| 18 | | - | SECTION 1. Section 1201.162, Occupations Code, is amended |
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| 19 | | - | by amending Subsection (a) and adding Subsection (d) to read as |
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| 20 | | - | follows: |
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| 21 | | - | (a) Before the completion of a credit application or more |
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| 22 | | - | than one day before entering into any agreement for a sale or |
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| 23 | | - | exchange that will not be financed, the retailer must provide to the |
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| 24 | | - | consumer a written disclosure in the form promulgated by the board. |
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| 25 | | - | The disclosure shall be in at least 12-point type and must: |
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| 26 | | - | (1) address: |
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| 27 | | - | (A) matters of concern relating to costs and |
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| 28 | | - | obligations that may be associated with home ownership; |
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| 29 | | - | (B) [,] matters to be considered in making |
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| 30 | | - | financing decisions; |
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| 31 | | - | (C) [,] related costs that may arise when |
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| 32 | | - | purchasing a manufactured home; |
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| 33 | | - | (D) a purchaser's ability to elect to treat a |
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| 34 | | - | manufactured home as real property or personal property; [,] and |
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| 35 | | - | (E) any [such] other matters as the board may |
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| 36 | | - | consider [deem] appropriate to promote informed purchase, |
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| 37 | | - | financing, and related decisions regarding the acquisition and |
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| 38 | | - | ownership of a manufactured home; and |
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| 39 | | - | (2) [. The form shall also] conspicuously disclose |
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| 40 | | - | the consumer's right of rescission. |
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| 41 | | - | (d) The disclosure required under Subsection (a)(1)(D) must |
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| 42 | | - | explain: |
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| 13 | + | SECTION 1. Section 1201.164, Occupations Code, is amended |
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| 14 | + | by adding Subsection (c) to read as follows: |
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| 15 | + | (c) A sales purchase contract must include a disclosure |
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| 16 | + | regarding a purchaser's ability to elect to treat a manufactured |
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| 17 | + | home as real property or personal property. The disclosure |
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| 18 | + | required under this subsection must explain: |
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| 53 | | - | SECTION 2. Section 1201.162, Occupations Code, as amended |
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| 54 | | - | by this Act, applies only to a disclosure that is provided to a |
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| 55 | | - | consumer on or after the effective date of this Act. A disclosure |
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| 56 | | - | provided to a consumer before the effective date of this Act is |
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| 57 | | - | governed by the law as it existed immediately before the effective |
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| 58 | | - | date of this Act, and that law is continued in effect for that |
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| 59 | | - | purpose. |
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| 29 | + | SECTION 2. Section 1201.164(c), Occupations Code, as added |
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| 30 | + | by this Act, applies only to a sales purchase contract that is first |
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| 31 | + | signed by a retailer on or after the effective date of this Act. A |
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| 32 | + | sales purchase contract that is first signed by a retailer before |
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| 33 | + | the effective date of this Act is governed by the law as it existed |
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| 34 | + | immediately before the effective date of this Act, and that law is |
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| 35 | + | continued in effect for that purpose. |
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