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MN SF2175
Bill
Status
Passed
5/21/2014
Primary Sponsor
Terri Bonoff
Click for details
AI Summary
- State agencies are prohibited from paying more than 10 percent above the appraised value when acquiring real property with public money
- Exception allows agencies to exceed the 10 percent limit for properties appraised under $100,000 if both the agency and seller appraisals support a higher price, but not exceeding the seller's appraised value
- Agencies must obtain appraisals from licensed appraisers under chapter 82B and prepare fact sheets with legal descriptions and acquisition authority before purchase
- Excludes the Department of Transportation, Department of Natural Resources, and Board of Water and Soil Resources from these requirements
- Commissioner of Management and Budget must report by January 15, 2015, on documentation requirements and recommend any necessary exceptions to protect the public interest
Legislative Description
Real property acquisition by state agencies regulations
Last Action
Secretary of State Chapter 304
5/21/2014
Committee Referrals
Ways and Means4/24/2014
Finance3/26/2014
Judiciary3/19/2014
Higher Education and Workforce Development3/12/2014
State and Local Government3/3/2014
Full Bill Text
No bill text available