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A BILL TO BE ENTITLED
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AN ACT
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relating to property held by certain junior colleges and presumed |
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abandoned. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 76.001, Property Code, is amended to |
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read as follows: |
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Sec. 76.001. APPLICABILITY. (a) This chapter applies only |
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to the holder of property if: |
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(1) the holder is a: |
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(A) school district; |
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(B) [,] municipality; |
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(C) [, or] county; or |
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(D) junior college that has, in the manner |
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described by Subsection (b), opted to handle property described by |
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Subdivision (2) in accordance with this chapter; and |
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(2) the property is: |
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(A) presumed abandoned under Chapter 72 or 75; |
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and |
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(B) valued at $100 or less. |
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(b) This chapter applies to a junior college only if the |
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governing board of the junior college takes formal action to opt to |
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handle property described by Subsection (a)(2) in accordance with |
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this chapter. |
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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, 2011. |