1-1     By:  Brown                                            S.B. No. 1497

 1-2           (In the Senate - Filed March 13, 1997; March 20, 1997, read

 1-3     first time and referred to Committee on Finance; April 18, 1997,

 1-4     reported favorably by the following vote:  Yeas 11, Nays 0;

 1-5     April 18, 1997, sent to printer.)

 1-6                            A BILL TO BE ENTITLED

 1-7                                   AN ACT

 1-8     relating to the special account to fund the Texas Real Estate

 1-9     Research Center.

1-10           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

1-11           SECTION 1.  Subsection (m), Section 5,  The Real Estate

1-12     License Act (Article 6573a, Vernon's Texas Civil Statutes), is

1-13     amended to read as follows:

1-14           (m)  The commission shall charge and collect as a condition

1-15     for issuance and for renewal of a real estate broker license the

1-16     fee under Section 11(a)(14) of this Act.  The commission shall

1-17     charge and collect as a condition for issuance and for renewal of a

1-18     real estate salesman license the fee under Section 11(a)(15) of

1-19     this Act.  The commission shall transmit the fees under this

1-20     subsection quarterly to Texas A&M University for deposit in a

1-21     separate banking account.  The money in the separate account may

1-22     [shall] be expended only for the support and maintenance of the

1-23     Texas Real Estate Research Center and for carrying out the

1-24     purposes, objectives, and duties of the center.  The separate

1-25     account is exempt from Section  403.095, Government Code. However,

1-26     all money expended from the separate account shall be as determined

1-27     by legislative appropriation.

1-28           SECTION 2.  Section 1 of this Act is intended to re-create

1-29     the separate account established by Subsection (m), Section 5, The

1-30     Real Estate License Act (Article 6573a, Vernon's Texas Civil

1-31     Statutes).

1-32           SECTION 3.  The importance of this legislation and the

1-33     crowded condition of the calendars in both houses create an

1-34     emergency and an imperative public necessity that the

1-35     constitutional rule requiring bills to be read on three several

1-36     days in each house be suspended, and this rule is hereby suspended,

1-37     and that this Act take effect and be in force from and after its

1-38     passage, and it is so enacted.

1-39                                  * * * * *