Introduced
by
To require surplus land that the state plans to sell to be offered to the local government for less than fair market value before trying to sell it to a private entity at fair market value. Local governments would be allowed to use the money saved by the discount price to subsidize a private entity in using the land for "economic development" by means of a "partnership" with the private entity. If a local government sold the land for a profit within one year it would have to share half the profit with the state.
Referred to the Committee on Local Government and Urban Policy
Reported without amendment
With the recommendation that the substitute (H-3) be adopted and that the bill then pass.
