LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE
74th Regular Session
April 6, 1995
TO: Honorable Bill Sims, Chair IN RE: Senate BillNo. 1282
Committee on Natural Resources By: Rosson
Senate
Austin, Texas
FROM: John Keel, Director
In response to your request for a Fiscal Note on Senate Bill No.
1282 (Relating to the authority of the School Land Board to
dedicate permanent school fund land for public uses in exchange
for non-monetary consideration:) this office has determined the
following:
The bill would amend Chapter 51 of the Natural Resources Code to
allow the School Land Board to dedicate Permanent School Fund
(PSF) land to a governmental entity for public purposes such as
roads, utilities, etc. without receiving a monetary consideration
from the entity. Under this bill, the board could convey a plot
of land, by plat or deed, for a public use in return for a non-
monetary consideration, provided that the consideration is
reasonably equivalent to the value of the dedicated land, as
determined by land office appraisal. If the asset management
division of the General Land Office(GLO) determines that a road
or other public use would sufficiently enhance the value of the
land for a potential buyer, the amount of that enhanced value
could be accepted as a non-monetary consideration.
The GLO indicates that such a tool would enhance the value and
marketability of PSF land, facilitate sales and result in a net
overall positive fiscal impact. However, the amount of any
positive fiscal impact cannot be accurately estimated.
No fiscal implication to units of local government is
anticipated.
The fiscal implication to the State cannot be determined.
Source: Comptroller of Public Accounts, General Land Office and
Veterans' Land Board
LBB Staff: JK, KW, DF