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79R8922 AJA-D

By:  Campbell                                                     H.B. No. 2205



A BILL TO BE ENTITLED

AN ACT

relating to damages for a seller's failure to provide an accounting 
statement in an executory contract transaction.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Section 5.077(c), Property Code, is amended to 
read as follows:  
	(c)  A seller who fails to comply with Subsection (a) is 
liable to the purchaser for:
		(1)  liquidated damages in the amount of the lesser of:                
			(A)  $20 [$250] a day for each day after January 31 
that the seller fails to provide the purchaser with the statement; 
or
			(B)  $1,000; and                                                      
		(2)  reasonable attorney's fees.                                              
	SECTION 2.  The change in law made by this Act applies only 
to a violation that occurs on or after September 1, 2005.  A 
violation that occurs before September 1, 2005, is governed by the 
law in effect when the violation occurs, and the former law is 
continued in effect for that purpose.
	SECTION 3.  This Act takes effect September 1, 2005.