HBA- ATS S.B. 545 76(R)    BILL ANALYSIS


Office of House Bill AnalysisS.B. 545
By: Nixon
Business & Industry
5/19/1999
Engrossed



BACKGROUND AND PURPOSE 

In rural areas, details of real estate transactions are often known only by
the loan provider, the title company, or the attorney involved in the
transaction.  These parties are hesitant to release such information
because of their obligations for confidentiality.  Yet, similar real estate
data is commonly provided in large metropolitan areas through multiple
listing services.  This information is useful to a real estate appraiser
when appraising a property's fair market value.  S.B. 545 authorizes a
person to release information about the sale of real property, located in a
municipality consisting of less than 20,000 people or in the unincorporated
area of a county consisting of less than 100,000 people, to a licensed or
certified real estate appraiser without violating any ethics rules imposed
upon the person because of the person's profession.  However, this bill
does not authorize the release of such information to the general public 

RULEMAKING AUTHORITY

It is the opinion of the Office of House Bill Analysis that this bill does
not expressly delegate any additional rulemaking authority to a state
officer, department, agency, or institution. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Subchapter A, Chapter 5, Property Code, by adding
Section 5.012, as follows: 

Sec.  5.012.  DISCLOSURE OF TERMS OF CERTAIN REAL PROPERTY SALES. Provides
that this section applies only to real property (property) located in a
municipality with a population of less than 20,000 people or the
unincorporated area of a county if that area has a population of less than
100,000 people.  Authorizes a person to release information about the sale
of property to a licensed or certified real estate appraiser without
violating any ethics rules imposed upon the person because of the person's
profession. Provides that this section does not authorize the release of
the sales information to the general public. 

SECTION 2.  Effective date: September 1, 1999.

SECTION 3.  Emergency clause.