Assigned to GES                                                                                                        FOR CAUCUS & FLOOR ACTION

 

 

 

ARIZONA STATE SENATE

Phoenix, Arizona

 

REVISED

FACT SHEET FOR H.B. 2474

 

cities; sale of property

 

Purpose

 

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.

 

Amendments Adopted by Committee

 

1.      Makes a technical change.

 

House Action                                                               Senate Action

 

CM                  1/31/00            DP       5-1-0-0                        GES                 3/6/00              DPA    7-0-2-0

3rd Read           2/23/00                        54-0-6-0

 

 

Prepared by Senate Staff

March 13, 2000