TX HB4713

Amends Section 16.073 of the Civil Practice and Remedies Code to clarify that claims sought to be arbitrated are subject to the same statutes of limitations as claims filed in court

Establishes that filing a lawsuit in a court of competent jurisdiction tolls (pauses) the limitations period for binding arbitration of the same action

Replaces existing Subsections (a) and (b) of the statute with new consolidated language on limitations periods

Takes effect immediately upon receiving two-thirds vote in both legislative chambers, otherwise takes effect on the 91st day after the legislative session ends