TO: | Honorable Leticia Van de Putte, Chair, Senate Committee on Veteran Affairs & Military Installations |
FROM: | John Keel, Director, Legislative Budget Board |
IN RE: | HB2540 by Menendez (Relating to granting a defense base development authority the power of eminent domain.), As Engrossed |
The bill would authorize a defense base development authority to exercise the power of eminent domain and provides the requirements that must be met prior to initiating eminent domain. The bill would take effect immediately if it receives a two-thirds vote in each house; otherwise, it would take effect September 1, 2003.
The development authority would incur costs for holding a public hearing, for publishing notice of the public hearing, and for the procedures associated with exercising eminent domain; however, costs involved with exercising eminent domain are expected to be recouped as a result of obtaining and using the acquired land.
Source Agencies: |
LBB Staff: | JK, WK, DLBa
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