By: Nixon S.B. No. 545 A BILL TO BE ENTITLED AN ACT 1-1 relating to disclosure of the terms of certain real property sales 1-2 to certified real estate appraisers. 1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-4 SECTION 1. Subchapter A, Chapter 5, Property Code, is 1-5 amended by adding Section 5.012 to read as follows: 1-6 Sec. 5.012. DISCLOSURE OF TERMS OF CERTAIN REAL PROPERTY 1-7 SALES. (a) This section applies only to real property located in: 1-8 (1) a municipality with a population of less than 1-9 20,000; or 1-10 (2) the unincorporated area of a county if the 1-11 unincorporated area has a population of less than 100,000. 1-12 (b) A person may release information relating to the terms 1-13 of the sale of real property to a real estate appraiser licensed or 1-14 certified under the Texas Appraiser Licensing and Certification Act 1-15 (Article 6573a.2, Vernon's Texas Civil Statutes) without violating 1-16 any ethics rules imposed on the person by the person's profession. 1-17 (c) This section does not authorize the release of 1-18 information relating to the terms of the sale of real property to 1-19 the general public. 1-20 SECTION 2. This Act takes effect September 1, 1999. 1-21 SECTION 3. The importance of this legislation and the 1-22 crowded condition of the calendars in both houses create an 1-23 emergency and an imperative public necessity that the 1-24 constitutional rule requiring bills to be read on three several 2-1 days in each house be suspended, and this rule is hereby suspended.