AL SB372

State, county, municipality, and other governmental entities must disclose all information concerning real property purchases made with public funds within 30 days of purchase or within 30 days of announcing a tied economic development project.

Disclosure must include property appraisals, purchase contracts, all purchase terms, sources of funds, materials reviewed by approval authority, and any other related materials.

Disclosure reports must be made public, attached to minutes of the next scheduled meeting following the purchase, and published on the entity's website in a conspicuous manner if a website is maintained.

The act becomes effective on the first day of the third month following passage and approval by the Governor, or upon otherwise becoming law.