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GA HB780
Bill
Status
Passed
7/29/2020
Primary Sponsor
Clay Pirkle
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AI Summary
- Amends Code Section 50-16-34 to expand when the State Properties Commission may use a simpler "opinion of value" instead of a formal written appraisal when conveying state property
- Allows an opinion of value for property conveyances made for the purpose of constructing, installing, operating, and maintaining utilities that solely and directly benefit the state, in addition to the existing allowance for conveyances to public entities
- Retains the requirement of at least one formal written appraisal by a member of a nationally recognized appraisal organization when property is conveyed to a private entity
- Continues to require a second written appraisal when property conveyed to a private entity is valued in excess of $100,000.00
- Maintains the existing requirement of at least two written appraisals for the Western and Atlantic Railroad, one of which may be the latest Interstate Commerce Commission valuation report
Legislative Description
State Properties Commission; use an opinion of value in the valuation of state property where a conveyance of the property by the state is for the sole and direct benefit to the state; allow
Last Action
Effective Date
1/1/2021
Full Bill Text
No bill text available