S.B. No. 1172 amends the Texas Occupations Code to exempt certain transactions from regulation by the Texas Real Estate Commission. The bill introduces new definitions for "Mineral," "Other energy source," and "Water," clarifying the scope of these terms in relation to real estate transactions. Specifically, "Mineral" encompasses various natural resources, while "Other energy source" includes resources like geothermal and solar energy. The definition of "Water" is expanded to include diffused surface water, groundwater, and state water.

Additionally, the bill modifies the applicability of Chapter 1101 by adding exemptions for specific transactions. Notably, it allows for the sale, lease, or transfer of real property interests in minerals, mining, standing timber, and other energy sources without requiring regulation. It also includes provisions for transactions involving limited partnerships and limited liability companies, specifying that certain employees and partners can conduct real estate transactions without being subject to the commission's oversight. The bill is set to take effect immediately upon receiving a two-thirds vote from both houses or on September 1, 2025, if that threshold is not met.

Statutes affected:
Introduced: Occupations Code 1101.002, Occupations Code 1101.005 (Occupations Code 1101)
Senate Committee Report: Occupations Code 1101.002, Occupations Code 1101.005 (Occupations Code 1101)
Engrossed: Occupations Code 1101.002, Occupations Code 1101.005 (Occupations Code 1101)
House Committee Report: Occupations Code 1101.002, Occupations Code 1101.005 (Occupations Code 1101)
Enrolled: Occupations Code 1101.002, Occupations Code 1101.005 (Occupations Code 1101)