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REFERENCE TITLE: municipal economic development; sale; lease |
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State of Arizona Senate Fifty-fourth Legislature First Regular Session 2019
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SB 1147 |
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Introduced by Senator Leach
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AN ACT
AMENDING TITLE 9, CHAPTER 4, ARTICLE 1, ARIZONA REVISED STATUTES, BY ADDING SECTION 9-403.01; RELATING TO THE SALE OR LEASE OF MUNICIPAL PROPERTY.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Title 9, chapter 4, article 1, Arizona Revised Statutes, is amended by adding section 9-403.01, to read:
9-403.01. Sale or lease of property for economic development activities; notice; exceptions; definition
A. Notwithstanding any other powers granted to a governing body of a city or town, the governing body of the city or town may sell or lease for economic development activities land or buildings owned by or under the control of the city or town only pursuant to the requirements of this section.
B. The governing body of the city or town shall appoint an experienced, independent appraiser to determine the sale or lease valuation of the land or building, except that the appointment of an appraiser is not required for the sale or lease of any land or building that is valued at $50,000 or less if the value of the land or building has been estimated and justified by a market analysis that is based on comparable sales. The governing body shall make available to the public on the governing body's website any appraisal report or market analysis prepared pursuant to THIS SECTION for four consecutive weeks before the governing body executes any sale or lease.
C. The governing body of the city or town shall give notice of a proposed sale or lease by publication, once each week for four consecutive weeks before the governing body executes any sale or lease, in a newspaper of general circulation in the city or town. the notice shall state all material conditions of the proposed sale or lease, including, if applicable, the valuation of the land or building determined pursuant to this section.
D. For the purposes of this section, "economic development activities" has the same meaning prescribed in section 9-500.11.
Sec. 2. Purpose; applicability
A. This act is intended to enforce article IX, section 7, Constitution of Arizona. It is the intent of the legislature to clarify existing law relating to the state's preemption of economic development activities in this state. Economic development is regulated by the Constitution of Arizona and is of statewide concern. Therefore, the legislature intends to limit the ability of any city or town to engage in economic development activities in violation of article IX, section 7, Constitution of Arizona.
B. This act applies to any agreement made on or after the effective date of this act.