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A BILL TO BE ENTITLED
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AN ACT
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relating to the acquisition and sale of unimproved real property by |
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an urban land bank. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 379C.004(a), Local Government Code, is |
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amended to read as follows: |
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(a) The governing body of a municipality may adopt an urban |
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land bank demonstration program in which the officer charged with |
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selling real property ordered sold pursuant to foreclosure of a tax |
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lien may sell certain eligible real property by private sale for |
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[purposes of] affordable housing development or other purposes as |
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provided by this chapter. |
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SECTION 2. Sections 379C.014(a) and (c), Local Government |
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Code, as added by Chapter 1037 (H.B. 2840), Acts of the 83rd |
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Legislature, Regular Session, 2013, are amended to read as follows: |
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(a) Notwithstanding the other provisions of this chapter, |
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the land bank may acquire and sell to a developer property intended |
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for commercial use [to a developer to allow the construction of a
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grocery store that has at least 6,000 square feet of enclosed space
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and that offers for sale fresh produce and other food items for home
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consumption]. |
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(c) A sale under this section within the four-year period |
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following the date of acquisition of the property by the land bank |
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is for a public purpose and satisfies the requirement under Section |
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379C.009(b) that the property be sold within the four-year [that] |
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period to a qualified participating developer. |
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SECTION 3. 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, 2015. |