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AB 386 – Restrictions on the purchase price of land sold by land trusts to the DNR
This bill
prohibits the DNR from purchasing land from any
nonprofit organization for an amount that exceeds the amount that the nonprofit
organization paid to purchase that land or the fair market value of the land at the
time of the agency's acquisition, whichever is lower.
The bill also
provides that, if a nonprofit organization owns land acquired by gift, donation, or
devise, a state agency or authority may only acquire that land from the nonprofit
organization if the land is given or donated to the state agency or authority by the
nonprofit organization. The payment restriction created in the bill does not apply
to land acquired by a state agency or authority by condemnation.
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