Bill Text: TX SB586 | 2023-2024 | 88th Legislature | Introduced

---

Bill Title: Relating to the beneficiaries of trust funds paid or received in connection with an improvement on specific real property.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2023-02-17 - Referred to Business & Commerce [SB586 Detail]

Download: Texas-2023-SB586-Introduced.html

---

88R4356 SHH-F
By: Hughes S.B. No. 586

A BILL TO BE ENTITLED
AN ACT
relating to the beneficiaries of trust funds paid or received in
connection with an improvement on specific real property.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 162.003(a), Property Code, is amended to
read as follows:
(a) A person who is an [An] artisan, laborer, mechanic,
contractor, subcontractor, or materialman who labors or who
furnishes labor or material for the construction or repair of an
improvement on specific real property in this state, or the
assignee of that person, is a beneficiary of any trust funds paid or
received in connection with the improvement.
SECTION 2. This Act takes effect September 1, 2023.