This document includes Senate Committee Amendments incorporated into the bill on Thu, Feb 1, 2018 at 9:18 AM by estauffer.
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7 LONG TITLE
8 General Description:
9 This bill modifies provisions related to the disposal of county property.
10 Highlighted Provisions:
11 This bill:
12 ▸ defines terms;
13 ▸ addresses the amount for which a county may dispose of a significant parcel of real
14 property;
15 ▸ states that a county may require a potential purchaser or lessee to provide certain
16 information;
17 ▸ addresses a county's treatment of an unsolicited offer to purchase or lease a
18 significant parcel of real property; and
19 ▸ makes technical and conforming changes.
20 Money Appropriated in this Bill:
21 None
22 Other Special Clauses:
23 None
24 Utah Code Sections Affected:
25 AMENDS:
26 17-50-312, as last amended by Laws of Utah 2007, Chapter 291
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28 Be it enacted by the Legislature of the state of Utah:
29 Section 1. Section 17-50-312 is amended to read:
30 17-50-312. Acquisition, management, and disposal of property.
31 (1) As used in this section:
32 (a) "Adjusted present value" means:
33 (i) the disposition price; plus
34 (ii) the anticipated future value.
35 (b) (i) "Anticipated future value" means the total value of all reasonably anticipated
36 future benefits to a county from the disposal of a significant parcel of real property, including:
37 (A) increased tax revenues; and
38 (B) job creation or maintenance.
39 (ii) "Anticipated future value" does not include the present fair market value of the
40 significant parcel of real property.
41 (c) "Dispose" means to sell or lease.
42 (d) "Disposition price" means the price a potential purchaser or lessee offers to pay in
43 exchange for the sale or lease of a significant parcel of real property.
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45 lease, convey, or otherwise acquire and dispose of any real or personal property or any interest
46 in such property if the action is in the public interest and complies with other law.
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48 county unless specifically otherwise provided by law.
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50 regulation for the manner in which property shall be acquired, managed, and disposed of.
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52 county shall:
53 (i) provide reasonable notice of the proposed disposition at least 14 days before the
54 opportunity for public comment under Subsection [
55 (ii) allow an opportunity for public comment on the proposed disposition.
56 (b) Each county shall, by ordinance, define what constitutes:
57 (i) a significant parcel of real property for purposes of Subsection [
58 (ii) reasonable notice for purposes of Subsection [
59 (6) Ŝ→ (a) ←Ŝ A county may dispose of a significant parcel of real property in exchange for
59a less
60 than the present fair market value of the significant parcel of real property if the adjusted
61 present value of the significant parcel of real property is equal to or greater than the present fair
62 market value of the significant parcel of real property.
62a Ŝ→ (b) Subsection (6)(a) does not affect a county's authority to dispose of a significant parcel
62b of real property in a manner different from Subsection (6)(a) and in accordance with
62c applicable law. ←Ŝ
63 (7) Before a county agrees to dispose of a significant parcel of real property, the county
64 may require the potential purchaser or lessee to provide evidence that:
65 (a) the potential purchaser's or lessee's offer is bona fide;
66 (b) the potential purchaser or lessee has the ability to pay the disposition price; or
67 (c) any future benefits to the county from the disposal of the significant parcel of real
68 property are reasonably anticipated.
69 (8) If a county receives an unsolicited offer to purchase or lease a significant parcel of
70 real property:
71 (a) the county is not required to consider the offer; and
72 (b) a person may not consider the offer in determining the present fair market value of
73 the significant parcel of real property, unless considering the offer is warranted under generally
74 accepted standards of professional appraisal practice.
75 (9) A county may presume that the present fair market value of a significant parcel of
76 real property is equal to the average of two appraised values each of which is based upon fair
77 market value and calculated by a unique, independent appraiser who is licensed or certified in
78 accordance with Title 61, Chapter 2g, Real Estate Appraiser Licensing and Certification Act.
Legislative Review Note
Office of Legislative Research and General Counsel