84R18287 GRM-D
 
  By: Johnson H.B. No. 2590
 
  Substitute the following for H.B. No. 2590:
 
  By:  Rinaldi C.S.H.B. No. 2590
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to providing a remedy for fraud committed in certain real
  estate and stock transactions.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Chapter 27, Business & Commerce Code, is amended
  by adding Section 27.015 to read as follows:
         Sec. 27.015.  DECEPTIVE TRADE PRACTICE; PUBLIC REMEDY.  (a)  
  In this section, "consumer protection division" has the meaning
  assigned by Section 17.45.
         (b)  A violation of Section 27.01 is a false, misleading, or
  deceptive act or practice as defined by Section 17.46(b), and any
  public remedy under Subchapter E, Chapter 17, is available for a
  violation of that section.
         (c)  It is the duty of city attorneys to lend the consumer
  protection division any reasonable assistance requested in the
  commencement and prosecution of actions under this section. 
         (d)  To the same extent and in the same manner a district or
  county attorney may institute or prosecute an action under this
  section, a city attorney may institute or prosecute an action under
  this section.
         (e)  If a district, county, or city attorney brings an action
  under this section, 75 percent of any penalty recovered shall be
  deposited in the general fund of the county or municipality in which
  the violation occurred.
         SECTION 2.  The changes in law made by this Act apply only to
  a violation of Section 27.01, Business & Commerce Code, that occurs
  on or after the effective date of this Act. A violation of Section
  27.01, Business & Commerce Code, that occurs before the effective
  date of this Act is governed by the law in effect on the date the
  violation occurred, and the former law is continued in effect for
  that purpose.  For purposes of this section, a violation occurs
  before the effective date of this Act if any element of the
  violation occurs before that date.
         SECTION 3.  This Act takes effect September 1, 2015.