Honorable Kip Averitt, Chair, Senate Committee on Natural Resources
FROM:
John S. O'Brien, Director, Legislative Budget Board
IN RE:
SB1509 by Lucio (Relating to the authority of the asset management division of the General Land Office to sell real property to an economic development corporation.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would allow the General Land Office to sell real property that the Legislature has authorized or the Governor has approved for sale directly to a development corporation organized under the Development Corporation Act of 1979 (Article 5190.6, Vernon's Texas Civil Statutes) if the Land Commissioner determines the sale is in the best interest of the state. The General Land Office reports that passage of the bill would not result in fiscal implications to the state.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.