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AL HB329
Bill
Status
4/8/2010
Primary Sponsor
Alan Harper
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AI Summary
HB329 Summary
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Amends Section 9-15-82 of the Code of Alabama 1975 to exempt municipal commercial development authorities from normal statutory procedures for the transfer or sale of state-owned real property.
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Reduces the time frame for state repurchase rights from five years to three years when property sold by the state is resold to a private person, firm, or corporation within that period.
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Exempts the sale, lease, or transfer of any property owned by a municipal commercial development authority under Article 6, Section 11-54-170 et seq., from standard real property transfer procedures.
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Provides retroactive effective date of June 29, 1995 for the municipal commercial development authority exemption.
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Becomes effective immediately upon passage and approval by the Governor.
Legislative Description
State property, time period for state to repurchase land sold by state to certain entities if later sold to private person or entities, decreased, municipal commercial development authorities exempt from procedures regarding sale or transfer of state property, retroactive effect, Sec. 9-15-82 am'd.
State Property
Last Action
Delivered to Governor at 1:15 p.m. on April 8, 2010.
4/8/2010