Texas 2023 - 88th Regular

Texas House Bill HB1492

Filed
1/20/23  
Out of Senate Committee
 
Voted on by Senate
 
Governor Action
 
Bill Becomes Law
 

Caption

Relating to the conveyance of property by a municipality for the public purpose of economic development.

Impact

The impacts of HB 1492 are centered on increasing local economic development capabilities. It enables municipalities to participate in property transactions that directly support economic growth initiatives. This provision is particularly significant for cities like El Paso, where local leaders emphasize the necessity of having competitive tools to draw businesses. The supported reforms could potentially lead to job creation and an influx of business investment. The bill stipulates conditions under which municipalities can execute these transfers, ensuring that the public purpose is prioritized and that there are benefits to the local government and its constituents.

Summary

House Bill 1492, sponsored by Representative Ordaz, is designed to amend the Local Government Code in Texas to facilitate the conveyance of property by municipalities for public economic development purposes. The bill allows municipalities to transfer real property or interests in real property to entities with which they have an economic development agreement, as authorized by Chapter 380 of the Local Government Code. This legislative change aims to provide local governments with enhanced tools to attract businesses and encourage capital investment in their areas. By streamlining the process, the bill seeks to bolster economic growth in Texas cities, particularly those competing for jobs against neighboring states.

Sentiment

The sentiment around HB 1492 appears to be generally positive among proponents, particularly local government representatives and economic development directors. They argue that the bill represents an essential mechanism for enhancing economic competitiveness in a rapidly changing business environment. However, there may be concerns regarding transparency and public engagement in the conveyance process, particularly with respect to the potential risks of misusing public property or not fully serving the public interest.

Contention

The most notable point of contention revolves around the oversight mechanisms and public notice requirements tied to property transfers. While the bill aims to streamline the economic development process, there are apprehensions about how effectively these mechanisms ensure accountability to local communities. Further discussions may arise regarding the balance between facilitating economic growth and protecting public assets. The bill specifies conditions under which property can be conveyed, such as not transferring land acquired through eminent domain, which is a crucial safeguard to prevent potential misuse of municipal powers in real estate dealings.

Texas Constitutional Statutes Affected

Local Government Code

  • Chapter 253. Sale Or Lease Of Property By Municipalities
    • Section: 0125
    • Section: 0125

Companion Bills

TX SB543

Identical Relating to the conveyance of property by a municipality for the public purpose of economic development.

Similar Bills

CA AB2013

Property taxation: new construction: damaged or destroyed property.

CA AB1500

Property taxation: application of base year value: disaster relief.

CA AB245

Property taxation: application of base year value: disaster relief.

DC B25-0486

Uniform Community Property Disposition at Death Act of 2023

CA SB964

Property tax: tax-defaulted property sales.

CA SB603

Property taxation: transfer of base year value: disaster relief.

CA SB1091

Property taxation: transfer of base year value: disaster relief.

HI HB1398

Relating To Property.