HB 1174-1_ Filed 02/14/2011, 11:14 Steuerwald


Text Box


    PREVAILED      Roll Call No. _______
    FAILED        Ayes _______
    WITHDRAWN        Noes _______
    RULED OUT OF ORDER


[

HOUSE MOTION ____

]

MR. SPEAKER:

    I move that House Bill 1174 be amended to read as follows:

    Page 1, strike line 13.

SOURCE: Page 1, line 13.
    Page; (11)MO117401.1. -->     Page 2, line 31, strike "However, the disposing agent may sell the property".
    Page 2, strike lines 32 through 33.
    Page 2, line 34, strike "accordance with subsection (c).".
    Page 3, between lines 18 and 19, begin a new paragraph and insert:
    " (i) The disposing agent may dispose of the real property for a value that is less than ninety percent (90%) of the average of the two (2) appraisals only after holding a public hearing with notice given in accordance with IC 5-3-1. Following the public hearing, bids may be rejected or the property may be sold to the highest and best bidder.
SOURCE: IC 36-1-11-4.2; (11)MO117401.2. -->     SECTION 2. IC 36-1-11-4.2 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2011]: Sec. 4.2. (a) This section applies to a disposing agent who wants to sell or transfer real property not acquired through eminent domain procedures for any of the following purposes:
        (1) To promote an economic development project.
        (2) To facilitate compatible land use planning.
    (b) The disposing agent shall first have the property appraised by two (2) appraisers. The appraisers must be:
        (1) professionally engaged in making appraisals;
        (2) licensed under IC 25-34.1; or
        (3) employees of the political subdivision familiar with the value

of the property.
The appraisers shall make a joint appraisal of the property.
    (c) Except as provided in subsection (d), the disposing agent may:
        (1) negotiate a sale or transfer; and
        (2) dispose of the real property;
at a value that is not less than the appraised value determined under subsection (b).
     (d) The disposing agent may dispose of the real property for a value that is less than the average of the two (2) appraisals determined under subsection (b) only after holding a public hearing with notice given in accordance with IC 5-3-1. Following the public hearing, bids may be rejected or the property may be sold to the highest and best bidder.".

SOURCE: Page 5, line 13; (11)MO117401.5. -->     Page 5, after line 13, begin a new paragraph and insert:
SOURCE: IC 36-1-11-10; (11)MO117401.4. -->     "SECTION 4. IC 36-1-11-10 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2011]: Sec. 10. (a) A disposing agent may lease property rather than sell, transfer, or exchange it under this chapter only if the disposing agent determines that a lease rather than a sale, transfer, or exchange would be in the best interest of the disposing agent's political subdivision or agency and the public. Except as provided in section 12 of this chapter, the disposing agent must proceed under this section in leasing property.
    (b) The disposing agent shall first have the property appraised in the manner prescribed in section 4(b) of this chapter, except that the appraisers shall determine the fair market rental value of the property.
    (c) The disposing agent shall receive bids in the manner prescribed in section 4 of this chapter and lease the property to the highest and best bidder. However, the disposing agent may lease the property for less than ninety percent (90%) of the appraised fair market rental value only after having an additional notice of the lease published in accordance with section 4(c) of this chapter. The disposing agent may reject all bids.
    (d) The disposing agent shall determine the terms and conditions of any lease under this section, which may include options to renew and options to purchase. The property may not be leased to a person who is ineligible under section 16 of this chapter.
    (e) The terms of a lease with option to purchase may provide that all or part of the rental payments under the lease apply to the purchase price. Except as provided in subsection (g), the purchase price must be equal to at least the minimum sale price determined under section 4(f) 4(i) of this chapter.
    (f) Property owned by a political subdivision or agency may be leased for a term longer than three (3) years if the lease is approved by the fiscal body of the political subdivision.
    (g) The disposing agent may dispose of the real property under this section for a value that is less than ninety percent (90%) of the

average of the two (2) appraisals determined under subsection (b) only after holding a public hearing with notice given in accordance with IC 5-3-1. Following the public hearing, bids may be rejected or the property may be disposed of to the highest and best bidder.".
    Renumber all SECTIONS consecutively.
    (Reference is to HB 1174 as printed February 11, 2011.)

________________________________________

Representative Steuerwald


MO117401/DI 75     2011