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ID H0202
Bill
Status
4/6/2015
Primary Sponsor
Ways and Means Committee
Click for details
AI Summary
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Personal property valued at $10,000 or less may be sold without independent appraisal valuations, notice, or competitive bids.
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Personal property exceeding $10,000 in value requires the board to select two independent individuals with relevant expertise to assess the property value before sale at public or private auction to the highest bidder.
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Individuals selected to assess personal property value are prohibited from acquiring that same property.
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Real property and personal property exceeding $10,000 must be appraised by a certified appraiser selected by the board before sale to the highest bidder for cash at not less than appraised value.
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Notice of sale must be published in a newspaper having general circulation in the district at least twice, with the first publication at least 15 days before the sale date, and must describe the property, state the appraised value, and specify the time, place, and conditions of sale.
Legislative Description
Amends existing law to provide requirements relating to assessing the value of certain personal property, to provide requirements for the sale of certain personal property and to provide that certain individuals are not eligible to acquire certain personal property.
FIRE PROTECTION DISTRICTS
Last Action
Reported Signed by Governor on April 6, 2015 Session Law Chapter 272 Effective: 07/01/2015
4/6/2015