HBA-NLM S.B. 340 76(R) BILL ANALYSIS Office of House Bill AnalysisS.B. 340 By: Madla Land & Resource Management 4/15/1999 Engrossed BACKGROUND AND PURPOSE Currently, Texas law is unclear as to whether a municipality has the authority to convey property to a municipally created development corporation without having to provide a notice and bid of sale. S.B. 340 provides for the conveyance of property to a municipally created corporation by a municipality if the property is adjacent to the area to be developed by the development corporation. RULEMAKING AUTHORITY It is the opinion of the Office of House Bill Analysis that this bill does not expressly delegate any additional rulemaking authority to a state officer, department, agency, or institution. SECTION BY SECTION ANALYSIS SECTION 1. Amends Chapter 253, Government Code, by adding Section 253.009, as follows: Sec. 253.009. CONVEYANCE OF ADJOINING PROPERTY TO MUNICIPAL DEVELOPMENT CORPORATION. Authorizes a municipality to convey to a municipally created economic development corporation real property that has been conveyed by gift to the municipality or conveyed to the municipality as part of a legal settlement and that is adjacent to an area designated for development by the corporation. Authorizes a municipality to convey property under this section for any fair consideration approved by the governing body of the municipality. Sets forth the required content of an ordinance that must be adopted by the governing body in order to make such a conveyance effective. Authorizes the municipality to convey the property under this section without complying with the other notice or bidding requirements prescribed by other law. SECTION 2. Emergency clause. Effective date: upon passage.