82R2298 TJS-D
 
  By: Castro H.B. No. 650
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to property held by certain junior colleges and presumed
  abandoned.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 76.001, Property Code, is amended to
  read as follows:
         Sec. 76.001.  APPLICABILITY. (a) This chapter applies only
  to the holder of property if:
               (1)  the holder is a:
                     (A)  school district;
                     (B)  [,] municipality;
                     (C)  [, or] county; or
                     (D)  junior college that has, in the manner
  described by Subsection (b), opted to handle property described by
  Subdivision (2) in accordance with this chapter; and
               (2)  the property is:
                     (A)  presumed abandoned under Chapter 72 or 75;
  and
                     (B)  valued at $100 or less.
         (b)  This chapter applies to a junior college only if the
  governing board of the junior college takes formal action to opt to
  handle property described by Subsection (a)(2) in accordance with
  this chapter.
         SECTION 2.  This Act takes effect immediately if it receives
  a vote of two-thirds of all the members elected to each house, as
  provided by Section 39, Article III, Texas Constitution.  If this
  Act does not receive the vote necessary for immediate effect, this
  Act takes effect September 1, 2011.