18
Texas Association of Builders
September/October 2015
Feature
the subsequent rescission or waiver of that
acceleration on the running of the limitations
period. Does not create an exclusive method
for waiver and rescission of acceleration or
affect the accrual of a cause of action and the
running of the related limitations period on any
subsequent maturity date.
Effective Immediately.
HB 2590 (Rep. Johnson/Sen. West)
Relating to providing a remedy for fraud
committed in certain real estate and
stock transactions.
Makes a violation of Sec.
27.01 of the Business and Commerce Code
(Fraud in Real Estate and Stock Transactions)
for real estate title transfers a deceptive trade
practice. Allows city attorneys to prosecute
the deceptive trade practice violation, just
as district or county attorneys may currently
do. This bill is in response to individuals in
the bill author’s district that are using adverse
possession to defraud buyers in real estate
transactions. An amendment was proposed by
TAB and added to exempt transactions subject
to RCLA from the provisions of the Act.
Effective Sept. 1, 2015.
WINDSTORM AND HAIL INSURANCE
HB 2439 (Rep. Smith/Sen. Eltife)
Relating
to inspections and other activities
conducted by engineers in connection
with the issuance of certain windstorm
and hail insurance.
Amends the Insurance
HB 1221 (Rep. Lucio/Sen. Estes)
Relating
to seller's disclosures in connection
with residential real property subject
to groundwater regulation.
Requires the
written notice from seller to buyer of residential
property, provided by the TREC form only, to
include whether any portion of the property
is located in a groundwater conservation
district, a subsidence district or other special
purpose district with the authority to regulate
the withdrawal of groundwater. With an added
amendment by Senator Estes this law “does not
require a seller to disclose that the residential
real property subject to a notice required by that
section is located in a groundwater conservation
district or a subsidence district unless the seller
has actual knowledge on the date of the notice
that the real property is located in a groundwater
conservation district or a subsidence district; or
create any duty for any person to investigate
to determine if the residential real property is
located in a groundwater conservation district or
a subsidence district.”
Effective Jan. 1, 2016.
HB 1665 (Rep. D. Bonnen/Sen. Kolkhorst)
Relating to notice of water level
fluctuations to purchasers of real
property adjoining an impoundment
of water.
Requires all sellers of residential
or commercial property to give written notice
regarding water level fluctuations to the
purchaser if the property is next to a lake or
reservoir (of at least 5,000 acre-feet at operating
level). Notice must be given on or before the
effective date binding the purchaser to purchase
the property. If proper notice is not given, the
purchaser may terminate the contract for any
reason within seven days after receiving the
notice or the information contained in the notice.
Effective Sept. 1, 2015.
HB 2066 (Rep. Oliveira/Sen. Watson)
Relating to the rescission of nonjudicial
foreclosure sales.
Amends current law relating
to the rescission of nonjudicial foreclosure sales.
The rescission process would allow the parties
to return to the state they occupied immediately
before the sale, without reaching a private
agreement or filing a lawsuit. A person who
wishes to rescind a sale must comply with specific
notice and refund requirements. Creates a statute
of limitations and limits damages for certain civil
actions related to a rescission conducted under
the provisions of the bill. Provides a third option
to rescind a flawed nonjudicial foreclosure sale.
Effective Sept. 1, 2015.
HB 2067 (Rep. Oliveira/Sen. Zaffirini)
Relating to the rescission or waiver of
an acceleration of the maturity date
of certain debt secured by a lien on
real property.
Amends the Civil Practice and
Remedies Code to add a section regarding the
statute of limitations for bringing suit for the
recovery of real property or the foreclosure of
a real property lien and describes the effect
of an acceleration of the maturity date and
For the past several years, TAB has maintained
transportation infrastructure funding as
a legislative priority. Reason being is that
Texas’ population, vehicle traffic and highway
construction costs continue to increase
dramatically without viable solutions to solve
associated issues. Furthermore, the state’s
existing funding system does not adequately
fund the current system, let alone provide
funding for improved infrastructure. Texas
voters overwhelmingly supported Proposition
1 in the November 2014 election.Although this
provided some additional funding for roads,
Prop 1 did not solve all of Texas’ transportation
funding requirements. According to the Office
of the State Demographer
an average of
2,600 people move to Texas each
day.
Needless to say, the Governor’s
decision to identify transportation funding
as an emergency item of the 84th Legislative
Session was appropriately opportune.
Chairman of the Senate Transportation
Committee Robert Nichols responded quickly
to Governor Abbott’s emergency call by filing
SB 5 and SJR 5. To draft his proposal, Nichols’
focused on five critical elements to help identify
additional funding sources for transportation:
predictability, constitutionally dedicated,
transportation related, independence of fuel
source and ability to adjust to inflation.As filed,
SB 5 and SJR 5 would have constitutionally
dedicated a portion of the existing sales tax
on new and used automobiles to the State
Highway Fund. The bill and joint resolution
quickly passed the Senate, only to be put on
hold in the House until the last few weeks
of session. Alternatively, Chairman of the
House Transportation Committee Joe Pickett
TRANSPORTATION FUNDING BILLS
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Denotes a TAB Priority Bill
