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A BILL TO BE ENTITLED
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AN ACT
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relating to conditions for the sale of public school land. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 51.052(i), Natural Resources Code, is |
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amended to read as follows: |
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(i) If [no bid meeting minimum requirements is received for
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a tract of land offered at a sealed bid sale under Subchapter D of
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Chapter 32, or if the transaction involves commercial real estate
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and] the board determines that it is in the best interest of the |
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permanent school fund, the asset management division of the land |
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office may solicit proposals or negotiate a sale, exchange, or |
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lease of [the] land to any person. The asset management division |
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may contract for the services of a real estate broker or of a |
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private brokerage or real estate firm to assist in a transaction |
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under this subsection. The board must approve any negotiated sale, |
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exchange, or lease of any land under this section. |
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SECTION 2. Sections 51.052(h) and (k), Natural Resources |
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Code, are repealed. |
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SECTION 3. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2007. |