The bill, H.B. No. 5408, amends the Natural Resources Code to enhance the review process of state-owned real property by the General Land Office and the Texas Department of Housing and Community Affairs (TDHCA). Key changes include the requirement for the division's recommendations to analyze the highest and best use of the property, specifically addressing potential commercial, residential, or agricultural leases. Additionally, the division must solicit a basic assessment from TDHCA regarding the suitability of the property for affordable housing before making recommendations to the governor. The TDHCA is mandated to submit this assessment within 60 days of the request.

Further amendments streamline the process by ensuring that the commissioner of the General Land Office also seeks a basic assessment from TDHCA before recommending any real estate transactions to the governor. The bill specifies that the commissioner must include the assessment in their report to the governor. Notably, the bill removes previous requirements for the TDHCA to evaluate properties identified as underused for affordable housing, thereby simplifying the review process while still emphasizing the importance of affordable housing considerations in state property transactions. The act is set to take effect immediately upon receiving a two-thirds vote or on September 1, 2025, if that threshold is not met.

Statutes affected:
Introduced: Natural Resources Code 31.156, Natural Resources Code 31.1571 (Natural Resources Code 31)