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	Amend HB 1513 on third reading by inserting the following 
appropriately numbered SECTIONS and renumbering existing SECTIONS 
of the bill accordingly:
	SECTION ____.  Section 162.001(c), Property Code, is amended 
to read as follows:
	(c)  A fee payable to a contractor is not considered trust 
funds if:  
		(1)  the [If a] contractor and property owner have 
entered into a written construction contract for the improvement of 
specific real property in this state before the commencement of 
construction of the improvement and the contract provides for the 
payment by the owner of the costs of construction and a reasonable 
fee specified in the contract payable to the contractor; and
		(2)  [,] the fee is earned as provided by the contract 
and paid to the contractor or disbursed from a construction account 
described by Section 162.006, if applicable [is not considered 
trust funds].
	SECTION ____.  Section 162.003, Property Code, is amended to 
read as follows:
	Sec. 162.003.  BENEFICIARIES OF TRUST FUNDS.  (a) An 
artisan, laborer, mechanic, contractor, subcontractor, or 
materialman who labors or who furnishes labor or material for the 
construction or repair of an improvement on specific real property 
in this state is a beneficiary of any trust funds paid or received 
in connection with the improvement.
	(b)  A property owner is a beneficiary of trust funds 
described by Section 162.001 in connection with a residential 
construction contract, including funds deposited into a 
construction account described by Section 162.006.