TX SB1476

Requires mandatory suspension or revocation of licenses/certificates for real estate brokers, agents, inspectors, appraisers, and appraisal management companies upon conviction of or guilty plea to a felony, theft/fraud offenses (Penal Code Chapters 31, 32, 34, 35), or controlled substance manufacturing/delivery offenses

Removes discretionary language that previously allowed the commission to consider felony or fraud convictions as one factor among many grounds for discipline, making license action mandatory for specified offenses

Establishes a 10-year waiting period before individuals whose licenses were revoked under these provisions may apply for a new license, calculated from the later of the revocation date or completion of their sentence (including fines and supervision)

Applies retroactively to offenses committed on or after January 1, 2020, meaning current license holders convicted of qualifying offenses since that date would be subject to mandatory revocation

Requires the Texas Real Estate Commission and Texas Appraiser Licensing and Certification Board to adopt implementing rules, with the act taking effect immediately upon two-thirds vote or September 1, 2025