2896 AMH YOUN JONC 193

HB 2896 - H AMD 1382

By Representative Young

NOT ADOPTED 02/17/2020

On page 4, line 29, after "(9)" insert "If the state agency, municipality, or political subdivision determines that all or a portion of the property that is being transferred, leased, or otherwise disposed of in accordance with this section was acquired through condemnation or eminent domain, the former owner has the right to repurchase as described in this subsection. For the purposes of this subsection, "former owner" means the person or entity from whom the state agency, municipality, or political subdivision acquired title. At least ninety days prior to the date on which the property is intended to be transferred, leased, or otherwise disposed of, the state agency, municipality, or political subdivision must mail notice of the planned transfer, lease, or other disposal to the former owner of the property at the former owner's last known address or to a forwarding address if that owner has provided the state agency, municipality, or political subdivision with a forwarding address. If the former owner of the property's last known address, or forwarding address if the forwarding address has been provided, is no longer the former owner of the property's address, the right of repurchase is extinguished. If the former owner notifies the state agency, municipality, or political subdivision within thirty days of the date of the notice that the former owner intends to repurchase the property, the state agency, municipality, or political subdivision must proceed with the sale of the property to the former owner for fair market value and may not list the property for sale to other owners. If the former owner does not provide timely written notice to the state agency, municipality, or political subdivision of the intent to exercise a repurchase right, or if the sale to the former owner is not completed within six months of the date of notice that the former owner intends to repurchase the property, the right of repurchase is extinguished.

(10)"

EFFECT: Requires the state agency, municipality, or political subdivision, when transferring, leasing, or otherwise disposing of surplus property for a public benefit purpose, obtained by means of eminent domain or condemnation, to notify the former owner and allow the former owner to repurchase the property at fair market value and prescribes a process and timeline for such a sale.

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