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ID H0536
Bill
Status
3/26/2014
Primary Sponsor
Health and Welfare Committee
Click for details
AI Summary
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State Board of Land Commissioners must obtain appraisals and review appraisals from licensed MAI appraisers conforming to USPAP standards before exchanging state endowment lands, considering all relevant information and circumstances when determining fair market value.
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State Board of Land Commissioners must submit an annual report by January 15 to both houses of the legislature and the audit division detailing all state endowment lands exchanged, acquired, and all appraisals and review appraisals conducted.
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Audit Division of the Legislative Services Office must report to the legislature annually by February 1 on all land exchanges by the State Board of Land Commissioners during the preceding year, including all appraisals and review appraisals conducted on such exchanges.
Legislative Description
Amends existing law to revise requirements of the State Board of Land Commissioners regarding the exchange of state endowment land; and to revise duties of the Audit Division of the Legislative Services Office regarding exchanges of state endowment land.
EXCHANGES OF STATE ENDOWMENT LANDS
Last Action
Reported Signed by Governor on March 26, 2014 Session Law Chapter 246 Effective: 07/01/2014
3/26/2014