The Texas Real Estate Commission (TREC) proposes amendments to 22 TAC Chapter 543, §§543.1 - 543.7 and §§543.10 - 543.13, concerning Rules Relating to the Provisions of the Texas Timeshare Act.

The proposed amendments to Chapter 543 are made following a comprehensive quadrennial rule review of Chapter 543 to better reflect current TREC procedures and to simplify and clarify where needed to improve readability.

Kerri Lewis, General Counsel, has determined that for the first five-year period the proposed amendments are in effect there will be no fiscal implications for the state or for units of local government as a result of enforcing or administering the sections. There is no anticipated impact on small businesses, micro-businesses or local or state employment as a result of implementing the sections. There is no anticipated economic cost to persons who are required to comply with the proposed amendments.

Ms. Lewis 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 better clarity and requirements that are easier to understand, apply, and process.

Comments on the proposal may be submitted to Kerri Lewis, General Counsel, Texas Real Estate Commission, P.O. Box 12188, Austin, Texas 78711-2188 or via email to general.counsel@trec.texas.gov. The deadline for comments is 30 days after publication in the Texas Register.

The amendments are proposed under the Texas Property Code, §221.024, which authorizes the Texas Real Estate Commission to prescribe and publish forms and adopt rules necessary to carry out the provisions of The Texas Timeshare Act.

The statute affected by this proposal is Texas Property Code, Chapter 221. No other statute, code or article is affected by the proposal.