HB 640 (BR 2194) - I. Branham
AN ACT relating to real property of the Commonwealth.
Amend KRS 45A.045 to prohibit the transfer of real property by the state for less than fair market value, and prohibit the transfer of real property for no or nominal consideration without an opportunity for a hearing before the Capital Projects and Bond Oversight Committee; create a new section of KRS Chapter 45A to create hearing procedure; require that prior to entering into any agreement to transfer, lease, sell, or otherwise dispose of the real property, the cabinet make a determination whether or not the property will remain in public use after the transfer, and ensure that it is transferred according to the statutory requirements, or that it is transferred after competitive advertisement and negotiation; require that the cabinet review and concur with the appraisal or do an independent appraisal which finds the real property to be of no or nominal value prior to transfer; amend KRS 56.463 to comply with hearing procedure requirement.
Feb 11-introduced in House
Feb 12-to State Government (H)