79R2046 PAM-D

By:  Wentworth                                                    S.B. No. 145



A BILL TO BE ENTITLED

AN ACT

relating to liquidated damages for violating certain requirements 
relating to executory contracts for the conveyance of certain real 
property.
	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 $250 [a day] 
for each annual statement [day after January 31 that] the seller 
fails to provide to the purchaser within the time required by 
Subsection  (a) [with the statement]; and
		(2)  reasonable attorney's fees.                                              
	SECTION 2.  The change in law made by this Act applies only 
to the act of a seller who fails to timely provide an annual 
statement as required by Section 5.077(a), Property Code, on or 
after the effective date of this Act.  The act of a seller who fails 
to timely provide an annual statement as required by Section 
5.077(a), Property Code, before the effective date of this Act is 
covered by the law in effect when the act was committed, and the 
former law is continued in effect for that purpose.
	SECTION 3.  This Act takes effect September 1, 2005.