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CA SB1170

Bill

Official Source

Status

Introduced

2/20/2014

Primary Sponsor

Carol Liu

Click for details

Origin

Senate

2013-2014 Session

AI Summary

  • Amends Government Code Section 54237 to modify how fair market value is determined for nonprofit organizations purchasing nonresidential properties they currently occupy
  • Requires fair market value for nonprofit tenant purchases of nonresidential properties to be determined relative to the current use of the property, rather than standard fair market value
  • Maintains existing priority to purchase rights for tenants in good standing of nonresidential properties
  • Applies only when the tenant with priority purchase rights is a nonprofit organization

Legislative Description

Surplus nonresidential property.

Last Action

Held in committee and under submission.

5/23/2014

Committee Referrals

Appropriations4/2/2014
Transportation and Housing3/6/2014
Rules2/20/2014

Full Bill Text

No bill text available