Bill Text: MN SF2175 | 2013-2014 | 88th Legislature | Engrossed
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Real property acquisition by state agencies regulations
Sponsorship: Moderate Partisan Bill (Democrat 6-1)
Status: (Passed) 2014-05-21 - Secretary of State Chapter 304 [SF2175 Detail]
Download: Minnesota-2013-SF2175-Engrossed.html
Bill Title: Real property acquisition by state agencies regulations
Sponsorship: Moderate Partisan Bill (Democrat 6-1)
Status: (Passed) 2014-05-21 - Secretary of State Chapter 304 [SF2175 Detail]
Download: Minnesota-2013-SF2175-Engrossed.html
1.2relating to state government; prohibiting state agencies from paying more than
1.3ten percent over the appraised value to acquire real property; proposing coding
1.4for new law in Minnesota Statutes, chapter 16B.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. [16B.297] ACQUISITION OF REAL PROPERTY.
1.7 Subdivision 1. Definition. For the purposes of this section, "agency" means an
1.8agency as defined in section 16B.01, subdivision 2, and the Board of Trustees of the
1.9Minnesota State Colleges and Universities, but does not include the Department of
1.10Transportation, the Department of Natural Resources, or the Board of Water and Soil
1.11Resources.
1.12 Subd. 2. Maximum price. When an agency is authorized to acquire real property or
1.13an interest in real property valued in excess of $100,000 with public money, the procedure
1.14in this section applies. The agency must first prepare a fact sheet providing a legal
1.15description of the real property to be acquired and the legal authority for its acquisition.
1.16The agency must obtain an appraisal of the real property by an appraiser who holds a
1.17state appraiser license issued by the Department of Commerce. The appraisal must be
1.18in conformity with the Uniform Standards of Professional Appraisal Practice of the
1.19Appraisal Foundation. The appraiser shall not have an interest directly or indirectly in
1.20any of the real property to be appraised. The agency may pay less for the property than
1.21the appraised value but must not agree to pay more than ten percent above the appraised
1.22value. If the agency pays less than the appraised value for the real property, the difference
1.23between the purchase price and the appraised value may be used to apply toward other
1.24purchases of real property at more than the appraised value. The sum of accumulated
2.1differences over the prior 12 months between appraised amounts and purchases for more
2.2than the appraised amount may not exceed the sum of accumulated differences over the
2.3prior 12 months between appraised amounts and purchases for less than the appraised
2.4amount. New appraisals may be made at the discretion of the agency.
1.3ten percent over the appraised value to acquire real property; proposing coding
1.4for new law in Minnesota Statutes, chapter 16B.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. [16B.297] ACQUISITION OF REAL PROPERTY.
1.7 Subdivision 1. Definition. For the purposes of this section, "agency" means an
1.8agency as defined in section 16B.01, subdivision 2, and the Board of Trustees of the
1.9Minnesota State Colleges and Universities, but does not include the Department of
1.10Transportation, the Department of Natural Resources, or the Board of Water and Soil
1.11Resources.
1.12 Subd. 2. Maximum price. When an agency is authorized to acquire real property or
1.13an interest in real property valued in excess of $100,000 with public money, the procedure
1.14in this section applies. The agency must first prepare a fact sheet providing a legal
1.15description of the real property to be acquired and the legal authority for its acquisition.
1.16The agency must obtain an appraisal of the real property by an appraiser who holds a
1.17state appraiser license issued by the Department of Commerce. The appraisal must be
1.18in conformity with the Uniform Standards of Professional Appraisal Practice of the
1.19Appraisal Foundation. The appraiser shall not have an interest directly or indirectly in
1.20any of the real property to be appraised. The agency may pay less for the property than
1.21the appraised value but must not agree to pay more than ten percent above the appraised
1.22value. If the agency pays less than the appraised value for the real property, the difference
1.23between the purchase price and the appraised value may be used to apply toward other
1.24purchases of real property at more than the appraised value. The sum of accumulated
2.1differences over the prior 12 months between appraised amounts and purchases for more
2.2than the appraised amount may not exceed the sum of accumulated differences over the
2.3prior 12 months between appraised amounts and purchases for less than the appraised
2.4amount. New appraisals may be made at the discretion of the agency.
