40 TAC §175.18
The Texas Veterans Land Board (the "Board") proposes
an amendment to §175.18, concerning Resale of Forfeited Land.
This amendment will allow the Board to finance the purchase of a forfeited
tract of land by a non-veteran, through the use of a note and deed
of trust.
Section 161.319(a) of the Natural Resources Code authorizes the
Board to sell forfeited tracts under terms and conditions and at the
time and in the manner prescribed by the Board in its rules, the provisions
of this chapter notwithstanding. By prior action the Board authorized
the resale of forfeited tracts to veterans by way of a note and deed
of trust. The Board finds that it is in the best interest of the program
to also be able to resell forfeited tracts to non-veterans by way
of a mortgage. This amendment to §175.18 will allow for the sale
of forfeited tracts to non-veterans by a note and deed of trust.
Paul E. Moore, Executive Secretary of the Veterans Land Board,
has determined that for each year of the first five years that the
section as proposed will be in effect, there will be no significant
fiscal implication to state or local government as a result of administering
this section as amended.
Mr. Moore has determined that for each year of the first five years
that the section as proposed will be in effect, the public will benefit
as a result of the flexibility given the Board to resell forfeited
tracts.
Mr. Moore has determined that the proposed amendment will not impose
any direct adverse economic effects on small businesses, micro-businesses,
or persons required to comply. Accordingly, the agency has not prepared
a regulatory flexibility analysis under Government Code, Chapter 2006.
Mr. Moore has determined that during each year of the first five
years the proposed amendment is in effect, the anticipated impact
on local employment will be insignificant.
Mr. Moore has determined that no private real property interests
are affected by this proposal and that this proposal does not restrict
or limit an owner's right to property that would otherwise exist in
the absence of government action. As a result, this proposal does
not constitute a taking or require a takings impact assessment under
Government Code §2007.043.
Comments may be submitted to Walter Talley, Texas Register Liaison,
Texas General Land Office, P.O. Box 12873, Austin, Texas 78711, facsimile
number (512) 463-6311, or email walter.talley@glo.texas.gov. Written
comments must be received no later that 5:00 p.m. thirty (30) days
after publication.
The amendment is proposed under the Natural Resources
Code, Title 7, Chapter 161, §§161.001, 161.061, 161.063,
and 161.319. These sections authorize the Board to adopt rules that
it considers necessary and advisable for the Veterans' Land Program.
The amendment affects §161.319 of the Natural Resources Code.
§175.18.Resale of Forfeited Land.
(a) - (b)
(No change.)
(c)
Sale of forfeited tracts.
(1)
(No change.)
(2)
Terms of sale.
(A) - (C)
(No change.)
(D)
Type II tracts shall
be sold to an eligible veteran or non-veteran under a contract of
sale and purchase or under a note and deed of trust.
(3) - (7)
(No change.)
(d)
(No change.)
This agency hereby certifies that the proposal has
been reviewed by legal counsel and found to be within the agency's
legal authority to adopt.
Filed with the Office
of the Secretary of State on April 29, 2013.
TRD-201301681
Larry Laine
Chief Clerk, Deputy Land Commissioner, General Land Office
Texas Veterans Land Board
Earliest possible date of adoption: June 9, 2013
For further information, please call: (512) 475-1859