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A BILL TO BE ENTITLED
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AN ACT
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relating to the repeal of real estate inspection recovery fund. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1102.114 is amended as follows: |
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Sec. 1102.114. ISSUANCE OF LICENSE. The commission shall |
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issue the appropriate license to an applicant who: |
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(1) meets the required qualifications; and |
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(2) [pays the fee required by Section 1102.352(a); and |
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(3)] submits proof of financial responsibility as |
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required by Section 1102.1141. |
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SECTION 2. Section 1102.403(b), Occupations Code, is |
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amended to read as follows: |
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(b) An administrative penalty collected under this section |
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for a violation by an inspector shall be deposited to the credit of |
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the general revenue [real estate inspection recovery] fund and |
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shall offset any amounts due from the commission to the general |
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revenue fund. [A penalty collected under this section for a |
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violation by a person who is not licensed under this chapter or |
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Chapter 1101 shall be deposited to the credit of the real estate |
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recovery trust account or the real estate inspection recovery fund, |
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as determined by the commission.] |
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SECTION 3. Section 1101.603(c) and (d), Occupations Code, |
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are amended to read as follows: |
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(c) Notwithstanding any other law, the commission shall |
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deposit to the credit of the trust account [or the real estate |
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inspection recovery fund, as determined by the commission,] an |
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administrative penalty collected under Subchapter O for a violation |
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by a person licensed under this chapter [or Chapter 1102]. |
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(d) Notwithstanding any other law, an administrative |
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penalty collected under Subchapter O for a violation by a person who |
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is not licensed under this chapter [or Chapter 1102] shall be |
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deposited to the credit of the trust account [or the real estate |
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inspection recovery fund, as determined by the commission]. |
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SECTION 3. Subchapter H, Chapter 1102, Occupations Code, is |
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repealed. |
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SECTION 4. (a) In this section: |
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(1) "Commission" means the Texas Real Estate |
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Commission. |
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(2) "Eligible inspector" means a person who holds a |
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real estate or professional inspector license under Chapter 1102, |
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Occupation Code, as of September 1, 2021. |
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(b) Not later than August 31, 2021, the commission shall |
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transfer not less than $300,000 from the real estate inspection |
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recovery fund to the general revenue fund. |
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(c) Not later than August 31, 2024, the commission shall |
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determine the remaining liability of the real estate inspection |
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recovery fund based on any pending claim for payment under former |
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Subchapter H, Chapter 1102, Occupations Code. |
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(d) The commission shall refund to each eligible inspector |
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who also holds a license as of the date of the refund any amount in |
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excess of the remaining liability of the real estate inspection |
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recovery fund determined under subsection (c) at a rate not to |
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exceed $10. |
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(e) Once all refunds to the inspectors are paid and all |
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claims for payment from the real estate inspection recovery fund |
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are paid, the commission shall transfer any remaining money to the |
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general revenue fund. |
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(f) Any money transferred to the general revenue fund under |
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this section offsets any amounts due from the commission to the |
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general revenue fund. |
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SECTION 5. (a) The changes in law made by this Act apply |
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only to payments made into real estate inspection recovery fund for |
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a on or after the effective date of this Act. Payments made into |
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real estate inspection recovery fund before that date are governed |
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by the law in effect on the date the payment was submitted, and the |
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former law is continued in effect for that purpose. |
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(b) The changes in law made by this Act apply only to a claim |
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for payment from the real estate inspection recovery fund based on a |
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cause of action that accrues on or after the effective date of this |
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Act. Subject to subsection (c), a claim for payment based on a |
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cause of action that accrues before the effective date of this Act |
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is governed by the law in effect when the cause of action accrued, |
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and the former law is continued in effect for that purpose. |
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(c) A claim for payment from the real estate inspection |
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recovery fund under former Subchapter H, Chapter 1102, Occupations |
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Code, for a cause of action that accrues before September 1, 2021, |
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must be filed before March 1, 2024. |
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SECTION 6. This Act takes effect September 1, 2021. |