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HF 2093

1st Engrossment - 88th Legislature (2013 - 2014) Posted on 02/27/2014 03:52pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - 1st Engrossment

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A bill for an act
relating to state government; prohibiting state agencies from paying more than
ten percent over the appraised value to acquire real property; proposing coding
for new law in Minnesota Statutes, chapter 16B.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

new text begin [16B.297] ACQUISITION OF REAL PROPERTY.
new text end

new text begin Subdivision 1. new text end

new text begin Definition. new text end

new text begin For the purposes of this section, "agency" means an
agency as defined in section 16B.01, subdivision 2, and the Board of Trustees of the
Minnesota State Colleges and Universities, but does not include the Department of Natural
Resources or the Board of Water and Soil Resources.
new text end

new text begin Subd. 2. new text end

new text begin Maximum price. new text end

new text begin When an agency is authorized to acquire real property or
an interest in real property with public money, the procedure in this section applies. The
agency must first prepare a fact sheet providing a legal description of the real property
to be acquired and the legal authority for its acquisition. The agency must provide for
the real property to be appraised. An appraiser shall, before entering upon the duties of
office, take and subscribe an oath to faithfully and impartially discharge the duties as an
appraiser according to the best of the appraiser's ability and attest that the appraiser is not
interested directly or indirectly in any of the real property to be appraised. The oath must
be attached to the report of the appraisal. The agency may pay less than the appraised
value but must not agree to pay more than ten percent above the appraised value, except if
the agency pays less than the appraised value for the real property, the difference between
the purchase price and the appraised value may be used to apply to purchases at more than
the appraised value. The sum of accumulated differences between appraised amounts and
purchases for more than the appraised amount may not exceed the sum of accumulated
differences between appraised amounts and purchases for less than the appraised amount.
New appraisals may be made at the discretion of the agency.
new text end