By: Brown S.B. No. 1497
A BILL TO BE ENTITLED
AN ACT
1-1 relating to the special account to fund the Texas Real Estate
1-2 Research Center.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Subsection (m), Section 5, The Real Estate
1-5 License Act (Article 6573a, Vernon's Texas Civil Statutes), is
1-6 amended to read as follows:
1-7 (m) The commission shall charge and collect as a condition
1-8 for issuance and for renewal of a real estate broker license the
1-9 fee under Section 11(a)(14) of this Act. The commission shall
1-10 charge and collect as a condition for issuance and for renewal of a
1-11 real estate salesman license the fee under Section 11(a)(15) of
1-12 this Act. The commission shall transmit the fees under this
1-13 subsection quarterly to Texas A&M University for deposit in a
1-14 separate banking account. The money in the separate account may
1-15 [shall] be expended only for the support and maintenance of the
1-16 Texas Real Estate Research Center and for carrying out the
1-17 purposes, objectives, and duties of the center. The separate
1-18 account is exempt from Section 403.095, Government Code. However,
1-19 all money expended from the separate account shall be as determined
1-20 by legislative appropriation.
1-21 SECTION 2. Section 1 of this Act is intended to re-create
1-22 the separate account established by Subsection (m), Section 5, The
1-23 Real Estate License Act (Article 6573a, Vernon's Texas Civil
2-1 Statutes).
2-2 SECTION 3. The importance of this legislation and the
2-3 crowded condition of the calendars in both houses create an
2-4 emergency and an imperative public necessity that the
2-5 constitutional rule requiring bills to be read on three several
2-6 days in each house be suspended, and this rule is hereby suspended,
2-7 and that this Act take effect and be in force from and after its
2-8 passage, and it is so enacted.