ARIZONA STATE SENATE
Phoenix, Arizona
cities; sale of property
Allows the sale, without the approval of the voters, of municipal real property valued at $500,000 or less.
Background
Cities are currently required to hold an election in order to sell real property valued at an excess of $100,000. In 1984, legislation was passed (H.B. 2141) that increased the minimum amount from $25,000 to $100,000.
H.B. 2474 allows property
valued up to $500,000 to be sold by cities or towns without voter approval.
The fiscal impact of this
legislation is unknown.
Provisions
1. Increases the minimum value from $100,000 to $500,000 of a municipality’s real property that may be sold without the approval of the voters.
2. Provides for a general effective date.
House Action
CM 1/31/00 DP 5-1-0-0
3rd Read 2/23/00 54-0-6-0
Prepared by Senate Staff
March 1, 2000