By: Lucio S.B. No. 1509
 
 
 
   
 
A BILL TO BE ENTITLED
AN ACT
relating to the authority of the asset management division of the
General Land Office to sell real property to an economic
development corporation.
       BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
       SECTION 1.  Subsection (a), Section 31.0672, Natural
Resources Code, is amended to read as follows:
       (a)  The division may directly sell to a political
subdivision or a development corporation organized under the
Development Corporation Act of 1979 (Article 5190.6, Vernon's Texas
Civil Statutes) any real property owned by the state that the
legislature has authorized or the governor has approved for sale
under Subchapter E if the commissioner determines the sale is 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, 2007.