SRC-AXB S.B. 545 76(R)   BILL ANALYSIS


Senate Research Center   S.B. 545
76R5117  PAM-DBy: Nixon
State Affairs
3/25/1999
As Filed


DIGEST 

In rural areas, details of real estate transactions are often known only by
the loan provider, the title company, or the attorney, because they
consider client information to be confidential.  Large metropolitan areas
commonly provide real estate data through multiple listing services, and
this information is valuable to appraisers in the estimation of properties'
fair market values.  S.B. 545 
allows the disclosure of certain real property sale information within
certain population limits, without violating confidentiality rules. 

PURPOSE

As proposed, S.B. 545 creates provisions for the disclosure of terms of
certain real property sales. 

RULEMAKING AUTHORITY

This bill does not grant any additional rulemaking authority to a state
officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Chapter 5A, Property Code, by adding Section 5.012, as
follows: 

Sec.  5.012.  DISCLOSURE OF TERMS OF CERTAIN REAL PROPERTY SALES. Provides
that this section is only applicable to real property located in a
municipality smaller than 20,000 people, or the unincorporated area of a
county consisting of less than 10,000 people.  Authorizes a person to
release certain information without violating any ethics rules imposed upon
that person. 

SECTION 2.  Effective date:  September 1, 1999.

SECTION 3.  Emergency clause.