| TO: | Honorable Frank Corte, Chair, House Committee on Defense Affairs and State-Federal Relations |
| FROM: | John Keel, Director, Legislative Budget Board |
| IN RE: | HB655 by Menendez (Relating to the sale of property by a defense base development authority.), As Introduced |
The bill would exempt a defense base development authority established under Chapter 378, Local Government Code, as added by Chapter 1221, Acts of the Seventy-sixth Legislature, Regular Session, 1999, from notice and bidding requirements with regard to the sale, conveyance, or exchange of land and real property interest at fair market value. The bill would take effect immediately if it receives a vote of two-thirds in each house; otherwise, it would take effect September 1, 2003.
The Greater Kelly Development Authority and the Brooks Development Authority, both located in the City of San Antonio, estimate the provisions of the bill would have a positive fiscal impact by enhancing the ability of the authorities to execute business deals in a timely manner and by saving the expense involved in the bidding process.
| Source Agencies: | 304 Comptroller of Public Accounts, 333 Office of State-Federal Relations, 480 Texas Department of Economic Development
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| LBB Staff: | JK, WK, DLBa, DE
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