78R5972 PAM-F

By:  Brown of Brazos                                              H.B. No. 2065

relating to the authority of the General Land Office to sell certain state-owned real property. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 31.067, Natural Resources Code, is amended to read as follows: Sec. 31.067. AUTHORITY TO SELL CERTAIN AGENCY LANDS. (a) The asset management division of the General Land Office is authorized to sell any real property acquired on behalf of the state pursuant to Section 402.025, Government Code. Sale of such property shall be conducted in accordance with the provisions of Section 31.158 of this code. Proceeds of sale shall be deposited in the General Revenue Fund as specified in Section 402.025, Government Code. (b) The division may sell real property owned by the state directly to any person or political subdivision if the commissioner determines the sale is in the best interest of the state. The division may contract for the services of a real estate broker in the course of a real estate transaction under this section. (c) The governor must approve a sale of real property negotiated under this section. Failure of the governor to approve the sale constitutes a veto of the real estate transaction. (d) A sale of real property under this section must be for fair market value and under any other terms and conditions the commissioner determines are in the best interest of the state. SECTION 2. This Act takes effect immediately if it receives a vote of two-thirds of all the members elected to each house, as provided by Section 39, Article III, Texas Constitution. If this Act does not receive the vote necessary for immediate effect, this Act takes effect September 1, 2003.