78R5972 PAM-F

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



A BILL TO BE ENTITLED

AN ACT

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.