HB 2702 Summary

• Requires legislative consent through joint resolution signed by the governor before the federal government can acquire private real property in Arizona that would remove it from state, county, and municipal property tax rolls.

• Mandates escrow agents and private property sellers notify the speaker of the house and president of the senate when selling private real property to the federal government, with civil penalties of $500-$1,000 for violations.

• Establishes Arizona's right of first refusal to purchase private real property that the federal government is attempting to acquire through sale, gift, grant, or other transfer of ownership interest.

• Exempts trustee's deeds or mortgages insured or held by the Department of Housing and Urban Development, Veterans Affairs, or Federal Housing Administration from these requirements.

• Exempts Indian tribe lands, reservations, and lands acquired as settlement of land claims from the consent requirements.