Bill Text: AZ HB2005 | 2018 | Fifty-third Legislature 2nd Regular | Introduced
Bill Title: Public service corporations; penalties
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2018-03-23 - Chapter 60 [HB2005 Detail]
Download: Arizona-2018-HB2005-Introduced.html
PREFILED NOV 17 2017
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REFERENCE TITLE: municipal economic development; sale; lease |
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State of Arizona House of Representatives Fifty-third Legislature Second Regular Session 2018
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HB 2005 |
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Introduced by Representative 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 law, the governing body of a 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 term of a lease for economic development activities may not exceed twenty-five years.
C. The governing body of the city or town shall appoint an experienced 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 fifty thousand dollars 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.
D. The governing body of the city or town shall sell or lease land or buildings at a public auction to the highest responsible bidder, if the amount of the bid is at least ninety percent of the valuation as determined by the appraiser or the market analysis and subject to such other terms and conditions as the governing body of the city or town prescribes.
E. 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, in a newspaper of general circulation in the city or town. The notice shall state all material conditions of the proposed sale or lease and the day on which the auction will be held, which shall be not fewer than thirty days after the last publication of the notice.
F. Subsections D and E of this section do not apply to leases that grant a leasehold interest to a person or entity that owned, leased or otherwise possessed the property to be leased immediately before purchase or acquisition by the city or town or to other persons or entities leasing property for a term that would expire within four years after the purchase or acquisition by the city or town. A lease entered into pursuant to this subsection shall be for at least ninety percent of, but not more than, the appraised lease valuation or market analysis determined pursuant to subsection C of this section.
G. For the purposes of this section, "economic development activities" has the same meaning prescribed in section 9-500.11, subsection M, paragraph 1.
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 and after the effective date of this act.
