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TX HB4881
Bill
Status
3/13/2025
Primary Sponsor
Mike Olcott
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AI Summary
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Authorizes the Texas Military Department to negotiate and release the state's reversionary interest in property in Palo Pinto County originally transferred to the City of Mineral Wells under Senate Bill 197 in 1953
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Requires the Texas Military Department to determine the fair market value of the property at the time of original transfer and the current fair market value of any state-retained interests in buildings and structures on the property
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Directs the department to assess whether the state has already received adequate consideration through the property's continuous use as a fair, livestock show, and rodeo ground serving a public purpose
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Allows the state's interests to be released without additional payment if the department determines the public use has provided sufficient value, or alternatively for monetary compensation to cover any remaining value owed
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Property consists of approximately 37 acres in Section 13, T. & P. R. R. Co. Surveys in Palo Pinto County, described by specific metes and bounds
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Takes effect immediately with two-thirds legislative vote, otherwise September 1, 2025
Legislative Description
Relating to the authority of the Texas Military Department to negotiate the release of a reversionary interest and certain other interests of the state in certain property in Palo Pinto County owned by the Palo Pinto County Livestock Association.
Property Interests
Last Action
Referred to Culture, Recreation & Tourism
4/3/2025