ARIZONA HOUSE OF REPRESENTATIVES Fifty-sixth Legislature Second Regular Session
	House: LARA DPA 8-1-0-0

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HB 2439: property conveyance; foreign entities; prohibition

Sponsor: Representative Montenegro, LD 29

House Engrossed

Overview

Prohibits, as of the effective date of this legislation, conveying land in this state to a federally banned corporation.

History

State lands means any land owned or held in trust by the state, including leased school or university land.  The Arizona State Land Department manages state lands, which includes state trust lands and lands otherwise owned by Arizona.  Management, sale and lease of state land is outlined in statute and the Arizona Constitution  (A.R.S. §§ 37-101, 37-102, 37-281, 37-232, 37-240) (Constitution of Arizona, Article 10).

Conveying land means to pass or transfer the title to property from the present owner to another by deed or other instrument (Black's Law Dictionary).

Provisions

1. Prohibits, beginning on the effective date of this legislation, conveying land in this state  to a federally banned corporation, including any agent or entity under significant control of the banned corporation. (Sec. 1)

2. Prohibits, beginning on the effective date of this legislation, sales of state lands to a federally banned corporation, including any agent or entity under significant control of the banned corporation. (Sec. 3)

3. Defines federally banned corporation. (Sec. 1 and 3)

4. Makes technical and conforming changes. (Sec. 1-3)

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8.                   HB 2439

9. Initials EB/KK    Page 0 House Engrossed

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