Honorable Paul Bettencourt, Chair, Senate Committee on Local Government
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
HB4664 by Bailes (Relating to authorizing the sale of certain real property by the State of Texas to the Trinity River Authority of Texas.), As Engrossed
The fiscal implications of the bill cannot be determined at this time due to the the fair market value of the real property that would be sold being unknown.
The bill would authorize the sale of 42.26 acres of real property in Polk and San Jacinto Counties to the Trinity River Authority at no less than fair market value as established by an independent appraisal obtained by the asset management division of the General Land Office (GLO). Proceeds from the sale would be deposited to Fund 0044 – Permanent School Fund.
The GLO indicates that the costs associated with the bill could be absorbed within current resources.
According to the Comptroller of Public Accounts, the fiscal impact to the State cannot be estimated.
Local Government Impact
The fiscal implications of the bill cannot be determined at this time.
Source Agencies:
304 Comptroller of Public Accounts, 305 General Land Office