| TO: | Honorable Byron Cook, Chair, House Committee on State Affairs |
| FROM: | Ursula Parks, Director, Legislative Budget Board |
| IN RE: | SB1023 by Watson (Relating to the renewal and extension and modification of a 99-year lease of certain state property to the City of Austin.), As Engrossed |
The bill would amend Chapter 34 of the General Laws, Acts of the 33rd Legislature, Regular Session, 1913, to provide that the State of Texas cedes and grants to the City of Austin the plot or square of land described in Section 1 of the Act for ninety-nine years beginning on August 15, 2016.
According to the General Land Office, the bill's provisions would affect three tracts of public use land each with valid legal provisos that the land continue in public use. The first tract, known as Republic Square, is a public park, a tract ceded and granted by the State of Texas to Austin in 1917 on a 99 year lease. The bill would renew the lease for another 99 years. The bill would grant a 99 year lease to the City of Austin for two other tracts of public use land. Brushy Park, the site of a fire station and a public museum; and Wooldridge Park, a public park.
The bill would stipulate that if the City of Austin should fail to use any of these three tracts for the purpose or purposes designated in the bill that property would revert to the State as upon breach of condition subsequent.
According to the General Land Office, no fiscal implication to the agency is anticipated.
According to the Comptroller of Public Accounts, no revenue or fiscal implication to the State is anticipated.
The bill would take effect August 15, 2016.
| Source Agencies: | 304 Comptroller of Public Accounts, 305 General Land Office and Veterans' Land Board
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| LBB Staff: | UP, KK, SD, TP, AG
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