By Place                                              H.B. No. 1205
       74R3112 JMM-D
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to the funding of the Texas Real Estate Research Center
    1-3  from certain real estate broker and salesman fees.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  Section 5(m), The Real Estate License Act
    1-6  (Article 6573a, Vernon's Texas Civil Statutes), is amended to read
    1-7  as follows:
    1-8        (m)  Seventeen dollars and fifty cents <Fifteen dollars>
    1-9  received by the commission for a renewal of a broker license before
   1-10  the expiration of the license or before the first anniversary of
   1-11  the date the license expired and $17.50 <$7.50> received by the
   1-12  commission for a renewal of a salesman license before the
   1-13  expiration of the license or before the first anniversary of the
   1-14  date the license expired shall be transmitted annually to Texas A&M
   1-15  University for deposit in a separate banking account.  The money in
   1-16  the separate account shall be expended for the support and
   1-17  maintenance of the Texas Real Estate Research Center and for
   1-18  carrying out the purposes, objectives, and duties of the center.
   1-19  However, all money expended from the separate account shall be as
   1-20  determined by legislative appropriation.
   1-21        SECTION 2.  This Act takes effect September 1, 1995, and
   1-22  applies only to a license issued or renewed on or after that date.
   1-23        SECTION 3.  The importance of this legislation and the
   1-24  crowded condition of the calendars in both houses create an
    2-1  emergency and an imperative public necessity that the
    2-2  constitutional rule requiring bills to be read on three several
    2-3  days in each house be suspended, and this rule is hereby suspended.