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A BILL TO BE ENTITLED
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AN ACT
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relating to the authority of the asset management division of the |
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General Land Office to sell real property to an economic |
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development corporation. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subsection (a), Section 31.0672, Natural |
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Resources Code, is amended to read as follows: |
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(a) The division may directly sell to a political |
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subdivision or a development corporation organized under the |
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Development Corporation Act of 1979 (Article 5190.6, Vernon's Texas |
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Civil Statutes) any real property owned by the state that the |
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legislature has authorized or the governor has approved for sale |
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under Subchapter E if the commissioner determines the sale is in the |
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best interest of the state. |
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SECTION 2. 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. |