Honorable Larry Taylor, Chair, Senate Committee on Education
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB2611 by VanDeaver (Relating to broker agreements for the sale of real property by school districts.), As Engrossed
No significant fiscal implication to the State is anticipated.
The bill's provisions allow a school district to contract with a licensed real estate broker to list property with a multiple-listing service (MLS) for 30 days, and after the 30-day period passes, allow the district to sell the property to a buyer offering the highest cash offer produced by any broker using the MLS. This sale may occur without complying with notice and bidding requirements of Section 272.001(a) of the Local Government Code.
The bill would take effect September 1, 2017, or immediately if passed with the necessary voting margins.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.