Enrolled Bill Summary

Senate Bill 985	Senate Author:  Zaffirini
Effective:  6-14-13	House Sponsor:  Isaac

            Senate Bill 985 amends the Local Government Code to authorize the governing body of a home-rule municipality to contract with a real estate broker to sell a tract of real property owned by the municipality and to pay a fee if the broker produces a ready, willing, and able buyer to purchase the property. If a contract is made to list the property for sale for at least 30 days with a multiple-listing service, the bill authorizes the governing body to sell the property on or after the 30th day after the date the property is listed to a ready, willing, and able buyer who is produced by any broker using the multiple-listing service and who submits the highest cash offer.