Honorable Abel Herrero, Chair, House Committee on Land & Resource Management
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB2090 by VanDeaver (Relating to compensation for heritage property acquired through eminent domain.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Property Code requiring property owned by a single family for 100 years or more to be designated as a heritage property. If heritage property is acquired through eminent domain a bona fide offer must equal or greater than 150 percent of the amount of written appraisal and the damages, if any, to the property owner's remaining property.
The bill would take effect September 1, 2017.
Local Government Impact
According to the Texas Municipal League the fiscal impact cannot be determined but it is anticipated to raise costs to local government.