SRC-MAX S.B. 1622 75(R) BILL ANALYSIS Senate Research Center S.B. 1622 By: Duncan Veteran Affairs 4-16-97 As Filed DIGEST Currently, Reese Air Force Base is scheduled to close on September 30, 1997. The city and county of Lubbock created the Lubbock Reese Redevelopment Authority Corporation (corporation) to develop a plan to turn the base into a business and industrial park. The corporation was formed in accordance with the U.S. Department of Defense guidelines as a nonprofit corporation. This bill establishes the Lubbock Reese Redevelopment Authority as a governmental entity under Chapter 101 of the Texas Civil Practice and Remedies Code. PURPOSE As proposed, S.B. 1622 creates the Lubbock Reese Redevelopment Authority. RULEMAKING AUTHORITY Rulemaking authority is granted to the board of directors of the Lubbock Reese Redevelopment Authority in SECTION 3(f) of this bill. SECTION BY SECTION ANALYSIS SECTION 1. DEFINITION. Defines "authority," "board," "county," "city," "property," and "corporation." SECTION 2. ESTABLISHMENT. Establishes the Lubbock Reese Redevelopment Authority (authority) as an authority of the State of Texas with certain boundaries and with certain members of the local governments being appointed to the board of directors of the authority (board). SECTION 3. BOARD. Sets forth provisions for the composition and administration of the board. Requires the board to adopt rules for its proceedings and may employ and compensate persons to carry out the powers and duties of the authority. SECTION 4. PURPOSE. Provides that the authority is created to accept title from the United States of America to all or any portion of the real property situated within Reese Air Force Base and sets forth certain tracts. SECTION 5. POWERS AND DUTIES OF THE AUTHORITY. Authorizes the authority to exercise all powers necessary or appropriate to carry out, achieve, or effectuate the purposes of this Act including certain administrative powers. SECTION 6. EXEMPT FROM TAXATION. Provides that the properties, revenues, and income of the authority are exempt from all taxes levied by the state or a political subdivision of the state. SECTION 7. DISSOLUTION. Authorizes the board to be dissolved upon approval of the city and county after all debts or obligations have been duly satisfied or retired in a certain manner. Provides that it is the intention of this legislative enactment that the authority will be dissolved after conveyance and sale of all the property. SECTION 8. SUCCESSOR. Provides that the authority is the successor in interest to the Lubbock Reese Redevelopment Authority Corporation (corporation) and shall succeed to all rights and liabilities of the corporation. SECTION 9. Severability clause. SECTION 10. Emergency clause. Effective date: upon passage.