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.