The bill, H.B. No. 1524, amends the Texas Fair Housing Act by introducing new definitions to enhance clarity within the law. Specifically, it adds a new definition for "bona fide offer," which is described as an offer made in good faith, free from deceitful motives, and legally binding on the parties involved. This definition also encompasses both lump sum offers and earnest money deposits. Additionally, the definition of "dwelling" is updated to specify that it includes any structure intended for residential occupancy that has received a certificate of occupancy, along with vacant land available for sale or lease for the construction of such structures.

These amendments aim to provide clearer guidelines for real estate transactions and housing regulations in Texas, ensuring that both buyers and sellers have a mutual understanding of the terms involved. The changes will take effect on September 1, 2025, allowing time for stakeholders to adjust to the new definitions.

Statutes affected:
Introduced: Property Code 301.003 (Property Code 301)