Bill Text: MN SF2175 | 2013-2014 | 88th Legislature | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Real property acquisition by state agencies regulations
Spectrum: Moderate Partisan Bill (Democrat 6-1)
Status: (Passed) 2014-05-21 - Secretary of State Chapter 304 [SF2175 Detail]
Download: Minnesota-2013-SF2175-Introduced.html
Bill Title: Real property acquisition by state agencies regulations
Spectrum: Moderate Partisan Bill (Democrat 6-1)
Status: (Passed) 2014-05-21 - Secretary of State Chapter 304 [SF2175 Detail]
Download: Minnesota-2013-SF2175-Introduced.html
1.2relating to state government; prohibiting state agencies from paying more than
1.3ten percent over the appraised value to acquire real property; proposing coding
1.4for new law in Minnesota Statutes, chapter 16B.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. [16B.297] ACQUISITION OF REAL PROPERTY.
1.7 Subdivision 1. Definition. For the purposes of this section, "agency" means an
1.8agency as defined in section 16B.01, subdivision 2, and the Board of Trustees of the
1.9Minnesota State Colleges and Universities.
1.10 Subd. 2. Maximum price. When an agency is authorized to acquire real property or
1.11an interest in real property with public money, the procedure in this section applies. The
1.12agency must first prepare a fact sheet providing a legal description of the real property
1.13to be acquired and the legal authority for its acquisition. The agency must provide for
1.14the real property to be appraised. An appraiser shall, before entering upon the duties of
1.15office, take and subscribe an oath to faithfully and impartially discharge the duties as an
1.16appraiser according to the best of the appraiser's ability and attest that the appraiser is not
1.17interested directly or indirectly in any of the real property to be appraised. The oath must
1.18be attached to the report of the appraisal. The agency may pay less than the appraised
1.19value but must not agree to pay more than ten percent above the appraised value, except if
1.20the agency pays less than the appraised value for the real property, the difference between
1.21the purchase price and the appraised value may be used to apply to purchases at more than
1.22the appraised value. The sum of accumulated differences between appraised amounts and
1.23purchases for more than the appraised amount may not exceed the sum of accumulated
2.1differences between appraised amounts and purchases for less than the appraised amount.
2.2New appraisals may be made at the discretion of the agency.
1.3ten percent over the appraised value to acquire real property; proposing coding
1.4for new law in Minnesota Statutes, chapter 16B.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. [16B.297] ACQUISITION OF REAL PROPERTY.
1.7 Subdivision 1. Definition. For the purposes of this section, "agency" means an
1.8agency as defined in section 16B.01, subdivision 2, and the Board of Trustees of the
1.9Minnesota State Colleges and Universities.
1.10 Subd. 2. Maximum price. When an agency is authorized to acquire real property or
1.11an interest in real property with public money, the procedure in this section applies. The
1.12agency must first prepare a fact sheet providing a legal description of the real property
1.13to be acquired and the legal authority for its acquisition. The agency must provide for
1.14the real property to be appraised. An appraiser shall, before entering upon the duties of
1.15office, take and subscribe an oath to faithfully and impartially discharge the duties as an
1.16appraiser according to the best of the appraiser's ability and attest that the appraiser is not
1.17interested directly or indirectly in any of the real property to be appraised. The oath must
1.18be attached to the report of the appraisal. The agency may pay less than the appraised
1.19value but must not agree to pay more than ten percent above the appraised value, except if
1.20the agency pays less than the appraised value for the real property, the difference between
1.21the purchase price and the appraised value may be used to apply to purchases at more than
1.22the appraised value. The sum of accumulated differences between appraised amounts and
1.23purchases for more than the appraised amount may not exceed the sum of accumulated
2.1differences between appraised amounts and purchases for less than the appraised amount.
2.2New appraisals may be made at the discretion of the agency.
