The bill, S.B. No. 1172, proposes amendments to the Texas Occupations Code to exempt certain transactions from regulation by the Texas Real Estate Commission. It introduces new definitions for "Mineral" and "Other energy source," clarifying that "Mineral" includes various natural resources such as oil, gas, and coal, while "Other energy source" encompasses resources like geothermal and solar energy. Additionally, the bill expands the list of transactions exempt from regulation, specifically including the sale, lease, or transfer of real property interests in minerals, water, standing timber, and other energy sources, as well as transactions related to limited partnerships and limited liability companies.

The bill also modifies existing exemptions by removing the previous language that referred to "mineral or mining interest in real property." It retains exemptions for various parties, including attorneys, public officials, and on-site managers of apartment complexes, while adding new provisions for transactions involving limited partnerships and limited liability companies. The bill is set to take effect immediately upon receiving a two-thirds vote from both houses of the legislature or on September 1, 2025, if such a vote is not achieved.

Statutes affected:
Introduced: Occupations Code 1101.002, Occupations Code 1101.005 (Occupations Code 1101)