Texas 2023 - 88th Regular

Texas House Bill HB3436 Compare Versions

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Version 2 (New)

Old	New	Differences
1	1	H.B. No. 3436
2	2
3	3
4	4	AN ACT
5	5	relating to the authority of the Texas Military Department to
6	6	negotiate the release of a reversionary interest and certain other
7	7	interests of the state in certain property in Palo Pinto County
8	8	owned by the Palo Pinto County Livestock Association.
9	9	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	10	SECTION 1. (a) The Texas Military Department shall
11	11	determine the fair market value of the property described in
12	12	Section 2 of this Act on the date the property was transferred by
13	13	the state to the City of Mineral Wells as provided by Senate Bill
14	14	197, Acts of the 53rd Legislature, Regular Session, 1953. The Texas
15	15	Military Department shall also determine the present fair market
16	16	value of interests retained by the state in buildings, structures,
17	17	and other property located or installed on the transferred property
18	18	as required by that Act. The fair market value of the transferred
19	19	property and other property interests may be established by an
20	20	independent appraisal obtained by the Texas Military Department or
21	21	by another means determined reasonable by the department if an
22	22	independent appraisal of that value is not feasible.
23	23	(b) Upon determining the fair market value of the property
24	24	described in Section 2 of this Act and any buildings, structures, or
25	25	other property located or installed on that property, as provided
26	26	by Subsection (a) of this section, the Texas Military Department
27	27	shall negotiate and close a transaction with the Palo Pinto County
28	28	Livestock Association for the release of the state's reversionary
29	29	interest in the property described by Section 2 of this Act and any
30	30	other interest of the state in buildings, structures, or other
31	31	property located or installed on that property.
32	32	(c) In negotiating and closing the transaction under
33	33	Subsection (b) of this section, the Texas Military Department shall
34	34	determine whether the state has received as consideration for the
35	35	state's transfer of the property described by Section 2 of this Act
36	36	the fair market value of the property, as determined under
37	37	Subsection (a) of this section, through the property's use since
38	38	its transfer for a fair, livestock show, and rodeo ground in
39	39	furtherance of a public purpose of this state, as provided by
40	40	covenants imposed in consideration of the transfer. The Texas
41	41	Military Department shall also consider whether the state has
42	42	received sufficient additional consideration through that use to
43	43	equal the present fair market value of buildings, structures, or
44	44	other property located or installed on the property described by
45	45	Section 2 of this Act to which the state retains title.
46	46	(d) If the Texas Military Department determines that the
47	47	state has received the fair market value of the property described
48	48	by Section 2 of this Act and any buildings, structures, or other
49	49	property located or installed on that property, as determined under
50	50	Subsection (a) of this section, the department shall by appropriate
51	51	instrument release the state's reversionary interest in the
52	52	property described by Section 2 of this Act and the state's interest
53	53	in any buildings, structures, or other property located or
54	54	installed on that property. Otherwise, the department may release
55	55	those interests in exchange for sufficient monetary consideration,
56	56	as determined by the Texas Military Department, to provide the
57	57	remaining value owed to the state for the state's transfer of the
58	58	property described by Section 2 of this Act and for any buildings,
59	59	structures, or other property installed on that property.
60	60	SECTION 2. The real property to which Section 1 of this Act
61	61	applies is situated in Palo Pinto County, Texas, and is described
62	62	more particularly as follows:
63	63	A part of Section 13, Abstract 701, T. & P. R. R. Co. Surveys
64	64	East of the Brazos in Palo Pinto County, Texas, and described by
65	65	metes and bounds as follows:
66	66	BEGINNING at a point on the West line of said Section 13, 1044
67	67	feet North of the Southwest corner of said section, said beginning
68	68	point being on the West line of a tract of 86.5 acres described as
69	69	"First Tract" in a deed dated June 18, 1937, from A. L. Howard and
70	70	wife, Virginia Howard, to the State of Texas;
71	71	THENCE North with the West line of said section, following
72	72	the West line of said 86.5 acre tract and the West line of a 45 acre
73	73	tract described as "Third Tract" in the above mentioned deed, a
74	74	total distance of 2586 feet to the Northwest corner of said 45
75	75	acres;
76	76	THENCE East with the North line of said 45 acres 625.8 feet to
77	77	corner;
78	78	THENCE South 2586 feet to corner;
79	79	THENCE West 625.8 feet to place of beginning.
80	80	SECTION 3. This Act takes effect immediately if it receives
81	81	a vote of two-thirds of all the members elected to each house, as
82	82	provided by Section 39, Article III, Texas Constitution. If this
83	83	Act does not receive the vote necessary for immediate effect, this
84	84	Act takes effect September 1, 2023.
85	85	______________________________ ______________________________
86	86	President of the Senate Speaker of the House
87	87	I certify that H.B. No. 3436 was passed by the House on May 9,
88	88	2023, by the following vote: Yeas 130, Nays 12, 2 present, not
89	89	voting.
90	90	______________________________
91	91	Chief Clerk of the House
92	92	I certify that H.B. No. 3436 was passed by the Senate on May
93	93	23, 2023, by the following vote: Yeas 31, Nays 0.
94	94	______________________________
95	95	Secretary of the Senate
96	96	APPROVED: _____________________
97	97	Date
98	98	_____________________
99	99	Governor