Texas § NR.31.156 - REAL PROPERTY REVIEW

§ NR.31.156. REAL PROPERTY REVIEW

REAL PROPERTY REVIEW. (a) The division shall review the real property inventory of each state agency not less than every four years, and a review shall be made during the calendar year before the agency is scheduled for abolition under the Texas Sunset Act (Chapter 325 , Government Code). The division may verify the accuracy of inventory records provided by an agency. (b) The division shall: (1) identify real property owned or controlled by the state that is not being used or is being substantially underused; and (2) make recommendations to the commissioner regarding the use of the real property or a real estate transaction involving the real property. (c) The division's recommendations must include an analysis of the highest and best use to which the real property may legally be placed and shall also include alternative uses of the real property addressing potential for commercial or agricultural lease of the real property or any other real estate transaction or use that the division may deem to be in the best interest of the state. (d) The division shall submit to the commissioner information pertinent to the evaluation of a real estate transaction involving the real property, including an evaluation of any proposals received from private parties that would be of significant benefit to the state and: (1) if the division recommends a real estate transaction involving the real property, the market value of the real property and the current market conditions; or (2) if the division does not recommend a real estate transaction involving the real property, evidence of the real property's value in a form determined to be appropriate by the commissioner. (e) In any year that the division will evaluate real property under the management and control of the Texas Military Department, the division shall notify the department before the division begins the evaluation. Added by Acts 1985, 69th Leg., ch. 102, Sec. 2, eff. May 15, 1985. Amended by Acts 1987, 70th Leg., ch. 167, Sec. 2.20(39), eff. Sept. 1, 1987; Acts 1997, 75th Leg., ch. 907, Sec. 2, eff. Sept. 1, 1997; Acts 1997, 75th Leg., ch. 1021, Sec. 15, eff. Sept. 1, 1997; Acts 1999, 76th Leg., ch. 1416, Sec. 1, eff. Aug. 30, 1999; Acts 2001, 77th Leg., ch. 685, Sec. 1, eff. Sept. 1, 2001; Acts 2003, 78th Leg., ch. 1091, Sec. 15, eff. June 20, 2003. Amended by: Acts 2005, 79th Leg., Ch. 194 (H.B. 957 ), Sec. 1, eff. May 27, 2005. Acts 2007, 80th Leg., R.S., Ch. 1335 (S.B. 1724 ), Sec. 11, eff. September 1, 2007. Acts 2013, 83rd Leg., R.S., Ch. 1217 (S.B. 1536 ), Sec. 2.12, eff. September 1, 2013.