H.B. No. 1665

	AN ACT
	relating to notice of water level fluctuations to purchasers of
	real property adjoining an impoundment of water.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1.  Subchapter A, Chapter 5, Property Code, is
	amended by adding Section 5.019 to read as follows:
	Sec. 5.019.  NOTICE OF WATER LEVEL FLUCTUATIONS. (a) This
	section applies only to the sale of residential or commercial real
	property adjoining an impoundment of water, including a reservoir
	or lake, constructed and maintained under Chapter 11, Water Code,
	that has a storage capacity of at least 5,000 acre-feet at the
	impoundment's normal operating level.
	(b)  A seller of real property shall give to the purchaser of
	the property a written notice in substantially the following form:
	NOTICE OF WATER LEVEL FLUCTUATIONS
	The water level of the impoundment of water adjoining the
	property at ______________ (street address and city) or described
	as ______________ (legal description) fluctuates for various
	reasons, including as a result of:
	(1)  an entity lawfully exercising its right to use the
	water stored in the impoundment; or
	(2)  drought or flood conditions.
	(c)  The notice described by Subsection (b) shall be
	delivered by the seller to the purchaser on or before the effective
	date of an executory contract binding the purchaser to purchase the
	property.
	(d)  If a contract is entered into without the seller
	providing the notice within the period required by Subsection (c),
	the purchaser may terminate the contract for any reason within
	seven days after the date the purchaser receives:
	(1)  the notice described by Subsection (b) from the
	seller; or
	(2)  information described by the notice under
	Subsection (b) from any other person.
	(e)  After the date of the conveyance, the purchaser may
	bring an action for misrepresentation against the seller if the
	seller:
	(1)  failed to provide the notice before the date of the
	conveyance; and
	(2)  had actual knowledge that the water level
	described by Subsection (b) fluctuates for various reasons,
	including the reasons stated in Subsection (b).
	SECTION 2.  Section 5.019, Property Code, as added by this
	Act, applies only to an executory contract entered into on or after
	the effective date of this Act.  An executory contract entered into
	before the effective date of this Act is governed by the law as it
	existed immediately before the effective date of this Act, and that
	law is continued in effect for that purpose.
	SECTION 3.  This Act takes effect September 1, 2015.
	______________________________	______________________________
	President of the Senate	Speaker of the House
	I certify that H.B. No. 1665 was passed by the House on April
	23, 2015, by the following vote:  Yeas 136, Nays 3, 2 present, not
	voting.
	______________________________
	Chief Clerk of the House
	I certify that H.B. No. 1665 was passed by the Senate on May
	23, 2015, by the following vote:  Yeas 31
	, Nays 0.
	______________________________
	Secretary of the Senate
	APPROVED:  _____________________
	Date
	_____________________
	Governor