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BILL ANALYSIS

 

 

 

H.B. 534

By: Anchia

Business & Industry

Committee Report (Unamended)

 

 

 

BACKGROUND AND PURPOSE

 

Currently, under Property Code provisions, a person other than a tenant who cosigns or guarantees a lease is potentially liable for the duration of a tenant's lease term and subsequent renewals of the lease.

 

H.B. 534 amends the Property Code to hold a person other than a tenant who cosigns or guarantees a lease liable only for the original lease term.

RULEMAKING AUTHORITY

 

It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.

ANALYSIS

 

H.B. 534 amends the Property Code to restrict the duration of liability of a person other than a tenant who cosigns or guarantees a residential lease to only the original lease term. The bill establishes that a provision purporting to renew for an additional lease term the liability of a person other than a tenant who cosigns or guarantees a residential lease is void.

EFFECTIVE DATE

 

September 1, 2009.