By: Lucio  S.B. No. 1509
         (In the Senate - Filed March 8, 2007; March 20, 2007, read
  first time and referred to Committee on Natural Resources;
  April 16, 2007, reported favorably by the following vote:  Yeas 10,
  Nays 0; April 16, 2007, sent to printer.)
 
 
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.
 
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