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House Bill 3072 |
House Author: Geren |
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Effective: 6-19-09 |
Senate Sponsor: Nelson |
House Bill 3072 amends the Local Government Code to authorize a municipality with a population of 20,000 or less to transfer to certain economic development corporations real property or an interest in real property without complying with notice and bidding requirements, unless the municipality acquired the property through eminent domain. The bill requires the economic development corporation to use the property in a manner that primarily promotes a public purpose of the municipality and provides for the automatic reversion of the property to the municipality if the corporation fails to use the property in that manner.