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TX SB2139
Bill
Status
6/20/2025
Primary Sponsor
Phil King
Click for details
AI Summary
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Texas Military Department is authorized to negotiate and release the state's reversionary interest in property in Palo Pinto County currently owned by the Palo Pinto County Livestock Association
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The department must determine the fair market value of the property at the time it was originally transferred to the City of Mineral Wells in 1953, as well as the current value of any state-retained interests in buildings and structures on the property
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The department must evaluate whether the state has already received adequate consideration through the property's decades of use as a fair, livestock show, and rodeo ground serving a public purpose
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If fair market value has been received through public use, the state's interests may be released without additional payment; otherwise, monetary compensation for the remaining value owed must be negotiated
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The property consists of approximately 37 acres in Section 13 of the T. & P. R. R. Co. Surveys in Palo Pinto County, originally conveyed to the state in 1937
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
Effective immediately
6/20/2025