Texas HB4881 authorizes the Texas Military Department to negotiate the release of state interests in property in Palo Pinto County.

Texas HB4881 grants the Texas Military Department authority to negotiate the release of the state's reversionary interest and other interests in certain property in Palo Pinto County, Texas. The bill specifies that the department must determine the fair market value of the property and any buildings or structures on it. If the state has received sufficient monetary consideration for the property's use as a fair, livestock show, and rodeo ground, the department may release the state's interests.

Texas HB4881 authorizes the Texas Military Department to negotiate the release of state interests in property in Palo Pinto County.

Texas HB4881 grants the Texas Military Department authority to negotiate the release of the state's reversionary interest and other interests in certain property in Palo Pinto County, Texas. The bill specifies that the department must determine the fair market value of the property and any buildings or structures on it. If the state has received sufficient monetary consideration for the property's use as a fair, livestock show, and rodeo ground, the department may release the state's interests.