BILL ANALYSIS S.B. 1115 By: Barrientos Finance 4-28-95 Committee Report (Unamended) BACKGROUND A piece of property was purchased from the Resolution Trust Corporation with the understanding that it was available for commercial development. Because the property was in the master plan for the Capitol Complex, the commercial development was not a realistic option. In 1993, the owner of the property approached the General Services Commission to offer the property for sale. Currently, the GSC does not have the authority to purchase the property. PURPOSE As proposed, S.B. 1115 authorizes the General Services Commission to purchase certain properties in Austin, Texas, on behalf of the state. RULEMAKING AUTHORITY It is the committee's opinion that this bill does not grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Authorizes the General Services Commission to purchase the property described by Section 2 of this Act for a price not to exceed $2 million on behalf of the state. SECTION 2. Sets forth and describes the property to be purchased. SECTION 3. Emergency clause. Effective date: upon passage.