The Texas Real Estate Commission (TREC) proposes amendments to §535.51 concerning general requirements, and §535.53 concerning corporations and limited liability companies. The amendments to §535.51 are proposed in connection with the passage of H.B. 1508 by the 78th Legislature (2003), increasing the maximum fee for application for salesperson's license to not more than $75. The amendment to §535.51 proposes to adopt by reference two revised application forms to reflect a salesperson application fee of $70 and a renewal application for broker license by a limited liability company to amend minor typographical errors in the form. The amendments to §535.53 change the cites to the relevant statutory provisions in Chapter 1101, Texas Occupations Code. House Bill 2813, 77th Legislature (2001), added Chapter 1101, a nonsubstantive codification of The Real Estate License Act, and repealed Article 6573a, Texas Civil Statutes, effective June 1, 2003. The amendments are also proposed in connection with TREC's on-going review of its rules and are generally intended to update and to clarify the rules concerning requirements for licensure.

Loretta R. DeHay, general counsel, has determined that for the first five-year period the sections are in effect there will be no fiscal implications for the state as a result of enforcing or administering the sections. There are no anticipated fiscal implications for units of local government. There is no anticipated impact on small businesses, micro businesses or local or state employment as a result of implementing the sections.

Ms. DeHay also has determined that for each year of the first five years the sections as proposed are in effect the public benefit anticipated as a result of enforcing the sections will be clarification of the underlying statutory authority for the rules and to update the application forms to reflect a change in fees, authorized by recent legislative amendments to the Act. There is no anticipated economic cost to persons who are required to comply with the proposed sections.

Comments on the proposal may be submitted to Loretta R. DeHay, General Counsel, Texas Real Estate Commission, P.O. Box 12188, Austin, Texas 78711-2188.

The amendments are proposed under Texas Occupations Code, §1101.151, which authorizes the Texas Real Estate Commission to make and enforce all rules and regulations necessary for the performance of its duties and to establish standards of conduct and ethics for its licensees in keeping with the purposed and intent of the Act to insure compliance with the provisions of the Act.

The statute affected by this proposal is Texas Occupations Code, Chapter 1101.

No other statute, code or article is affected by the proposed amendments.