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2001 SESSION

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HB 2165 Certain historic properties; notification prior to sale.

Introduced by: Marian Van Landingham | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Certain historic properties; notification prior to sale. Requires any charitable or civic organization or museum with tax exempt status under § 501 (c) (3) of the Internal Revenue Code that owns certain historic properties open to the public as historic attractions at least 100 days per year to notify in writing the chief administrative officer of the locality where the property is located, the Department of Historic Resources and the Office of Attorney General of its intent to sell or transfer ownership of the property. Such notification must be given at least 90 days prior to the public offering the property for sale or, if no public offering is made, prior to accepting a purchase offer for such property. The notification requirement is waived where (i) only a portion of the property is being sold or transferred and the portion not sold or transferred remains open to the public at least 100 days a year; (ii) the property is transferred to another owner with tax exempt status and the property remains open to the public at least 100 days a year; or (iii) an easement, right-of-way, or leasehold interest is being sold or transferred and the property remains open to the public at least 100 days a year. Failure to provide notice will not automatically invalidate the sale, but may subject the terms of the sale to special review by the Attorney General to ensure that there was no violation of any public law or charitable trust obligation by the transferring entity.

SUMMARY AS INTRODUCED:

Certain historic properties; notification prior to sale. Requires an owner with tax exempt status under § 501 (c) (3) of the Internal Revenue Code to provide written notice to the Department of Historic Resources and to the applicable local governing body of the intent to sell certain historic properties at least 90 days prior to the sale or offering of such property for sale. The notification requirement is waived where (i) only a portion of the property is being sold or transferred and the portion not sold remains open to the public at least 120 days a year; (ii) the property is being transferred to another owner with tax exempt status under § 501 (c) (3) of the Internal Revenue Code and the property remains open to the public at least 120 days a year; or (iii) an easement, right-of-way, or leasehold interest in the property is being sold or transferred and the property remains open to the public at least 120 days a year. Copies of the notice must also be forwarded to the Attorney General and to the governing body and planning district for the locality where the property is located. Failure to provide the required notice will not be the basis for invalidation of the sale, but may subject the terms of the sale to special review by the Attorney General.