(a) The board shall report to the legislature a trade of land dedicated to the permanent school fund. The board shall report the trade at:
- (1) the first regular session of the legislature occurring after the trade if the legislature is not meeting in regular session at the time the trade is made; or
- (2) the regular session of the legislature occurring at the time of the trade if the legislature is meeting in regular session at the time the trade is made.
- (b) The report must state the facts that warranted the trade.
Added by Acts 2003, 78th Leg., ch. 1276, Sec. 13.001(a), eff. Sept. 1, 2003.