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AZ SB1144
Bill
Status
3/23/2018
Primary Sponsor
Gail Griffin
Click for details
AI Summary
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Amends Arizona law to require conservation easement holders to provide information to the county assessor, including the property owner's name, holder's name, any third-party enforcement rights, creation date, duration terms, and pre-creation property valuation based on independent appraisal.
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Modifies the definition of "third party" rights in conservation easement documents by changing "third party" to "third-party" (hyphenated) and clarifies that governmental bodies, charitable corporations, or trustees with enforcement rights must be identified in the registry.
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Establishes that county assessors shall maintain a public digital registry of all Class 2(C) classified properties burdened by conservation easements, including information required under section 42-12058.
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Requires assessors to periodically review and revise registry information to verify that listed properties should continue to be classified as Class 2(C) property.
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Specifies that conservation easement modifications, assignments, releases, or terminations require written execution or approval by the current property owner, the easement holder, and any governmental body or charitable entity with third-party enforcement rights.
Legislative Description
Conservation easements; notice; valuation
Notice
Last Action
Chapter 52
3/23/2018