Bill Text: TX HB1056 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Relating to the registration of financial institutions and investment firms that lease residential real property.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2023-03-02 - Referred to Business & Industry [HB1056 Detail]
Download: Texas-2023-HB1056-Introduced.html
| 88R3062 ATP-D | ||
| By: Hinojosa | H.B. No. 1056 | |
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| relating to the registration of financial institutions and | ||
| investment firms that lease residential real property. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subchapter E, Chapter 92, Property Code, is | ||
| amended by adding Section 92.209 to read as follows: | ||
| Sec. 92.209. REGISTRY OF CERTAIN LANDLORDS. (a) In this | ||
| section: | ||
| (1) "Financial institution" has the meaning assigned | ||
| by Section 201.101, Finance Code. | ||
| (2) "Investment firm" means a corporation or trust | ||
| engaged in the business of investing the pooled capital of | ||
| investors in financial securities. | ||
| (b) A financial institution or investment firm that owns and | ||
| offers for lease a dwelling in this state must register with the | ||
| comptroller. The registration must contain the name of the | ||
| institution or firm, the number of dwellings owned in each county, | ||
| and any other information required by the comptroller by rule. | ||
| (c) The comptroller shall compile and maintain the | ||
| information in a registry that is available in a searchable format | ||
| on its Internet website. | ||
| (d) The comptroller may notify any appropriate regulatory | ||
| authority regarding a person's failure to register as required by | ||
| Subsection (b). | ||
| (e) The comptroller shall adopt rules as necessary to | ||
| implement and administer this section, including rules | ||
| establishing deadlines for registration under this section. | ||
| SECTION 2. This Act takes effect January 1, 2024. | ||
