Amend SB 434, in SECTION 1 of the bill, by striking Section 207.002, Property Code (House committee report, page 2, lines 6-8), as added by the bill, and substitute a new Section 207.002 as follows: Sec. 207.002. APPLICABILITY. (a) This chapter applies to a subdivision with a property owners' association that is entitled to levy regular or special assessments. (b) This chapter does not apply to a subdivision with a property owners' association that is managed by a non-compensated board that does not use a professional management company to supervise or conduct daily operations of the subdivision on a regular basis.