Bill Text: TX HB1562 | 2021-2022 | 87th Legislature | Introduced
Bill Title: Relating to required notice concerning special districts in certain Texas Real Estate Commission contract forms.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2021-04-07 - Left pending in committee [HB1562 Detail]
Download: Texas-2021-HB1562-Introduced.html
87R4948 DRS-D | ||
By: Holland | H.B. No. 1562 |
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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. |