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A BILL TO BE ENTITLED
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AN ACT
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relating to the conveyance of property by a municipality for the |
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public purpose of economic development. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 253, Local Government Code, is amended |
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by adding Section 253.0125 to read as follows: |
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Sec. 253.0125. CONVEYANCE OF PROPERTY FOR ECONOMIC |
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DEVELOPMENT PURPOSES. (a) This section applies only to an entity |
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and a municipality that have entered into an economic development |
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agreement authorized by Chapter 380. |
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(b) Notwithstanding Section 272.001(a) or other law, a |
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municipality may transfer to an entity real property or an interest |
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in real property for consideration described by this section. |
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(c) Consideration for a transfer authorized by this section |
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is in the form of an agreement between the parties that requires the |
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entity to use the property in a manner that primarily promotes a |
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public purpose of the municipality relating to economic |
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development. The agreement must include provisions under which the |
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municipality is granted sufficient control to ensure that the |
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public purpose is accomplished and the municipality receives the |
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return benefit. |
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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, 2015. |