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Amend CSHB 2295 by adding the following appropriately
numbered SECTIONS to the bill and renumbering subsequent SECTIONS
of the bill accordingly:
SECTION ____. Chapter 420, Property Code, is amended by
adding Section 420.005 to read as follows:
Sec. 420.005. FULL DISCLOSURE OF RESALE BY BUILDER. (a)
Before a contract may be executed or money exchanged between a
builder and a buyer for purchase of a home that, because of one or
more construction defects, the builder repurchased from a previous
buyer from the builder, the builder must provide to the buyer a
document that fully discloses the nature of and the builder's
remediation of each of those construction defects.
(b) In addition to a disclosure of the nature of each
construction defect and the remediation work performed, the
disclosure under Subsection (a) must include information relating
to:
(1) any products installed in the home relating to the
remediation;
(2) care and component warranties of those products;
(3) building standards used in performing the
remediation; and
(4) any risks and hazards of the home.
SECTION ____. Section 420.005, Property Code, as added by
this Act, applies only to a contract executed by a builder and a
buyer as described by Section 420.005, Property Code, as added by
this Act, on or after the effective date of this Act. A contract
executed before the effective date of this Act is covered by the law
in effect when the contract was executed, and the former law is
continued in effect for that purpose.