Bill: HB 3447, 83(R) - 2013

Bill Caption

Relating to establishment and functions of certain urban land bank programs.

Fiscal Notes

No fiscal implication to the State is anticipated. Because the bill would not have statewide impact on units of local government of the same type or class, no comment is required by the rules of the House/Senate as to its probable fiscal implication on units of local government.

Bill Analysis

Summary of Legislation: This Legislation adds San Antonio to the Urban Land Bank demonstration program.

Analysis: Urban Land Banks are used for public authorities to hold, manage, and develop tax-foreclosed property. They convert vacant, abandoned and tax-foreclosed property back to productive use. Land banks are tools of the local government to economically develop or redevelop blighted communities.

This legislation addresses potential costly impacts of abandoned homes and property.  In addition vacant properties tend to attract crime and remain substantial fire hazards. This has a negative impact on the surrounding community and spends municipal funds on nuisance abatement where there is a relatively small tax base to cover the services, thereby passing the cost elsewhere.

On the other hand this practice interferes with the free market by preventing private investors from having the opportunity to purchase these properties at county auction. 

We are neutral on this legislation.

Source URL (retrieved on 04/19/2024 01:04 AM): http://reports.texasaction.com/bill/83r/hb3447?print_view=true