Enrolled Bill Summary

House Bill 2396 amends the Natural Resources Code to allow the Veterans' Land Board to reduce from five acres to one acre the minimum tract size that is purchasable by a veteran under the veterans' land program. The bill increases from $40,000 to $60,000 the maximum amount the board may pay for a property for resale under that program. A new provision allows the purchaser to lease land for microwave, radio, or other communication towers for a term of not more than 50 years. Other provisions of the bill address land appraisal, insurance matters, assignor liability, forfeitures and reinstatement of contracts, late payments and default interest rates, veterans' land fund exposure limitations, and other technical and procedural issues related to the program.