Honorable Angie Chen Button, Chair, House Committee on Economic & Small Business Development
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB1754 by Pickett (Relating to the conveyance of property by a municipality for the public purpose of economic development.), Committee Report 1st House, Substituted
No fiscal implication to the State is anticipated.
The bill would amend the Local Government Code to permit certain municipalities to enter into agreements to transfer real property or interest in real property if the property is to be used in a manner that promotes public economic development and the municipality has sufficient control to ensure the agreed purpose is reached. The bill would require a municipality to provide notice to the general public before making a transfer under the agreement.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.