Bill
Bill > H5415
MA H5415
Authorizing the commissioner of Capital Asset Management and Maintenance to convey a certain parcel of land in the town of Lancaster
summary
Introduced
12/08/2022
12/08/2022
In Committee
12/29/2022
12/29/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
Authorizing the commissioner of Capital Asset Management and Maintenance to convey a certain parcel of land in the town of Lancaster
AI Summary
This bill authorizes the Commissioner of Capital Asset Management and Maintenance to convey a certain parcel of land in the town of Lancaster. The key provisions are:
1. The town of Lancaster must pay the Commonwealth $1 as consideration for the land conveyance.
2. If the town sells or leases any portion of the land, the net proceeds will be split equally between the town and the Commonwealth, though the Commonwealth's share can be reduced to not less than 40% to provide incentives for the town to sell or lease the land expeditiously.
3. If the town retains all or any portion of the land for municipal purposes, it must pay the Commonwealth the fair market value for the retained portion, as determined by an independent appraisal approved by the Inspector General.
4. The town of Lancaster must pay all costs and expenses related to the land conveyance and ownership, except for the cost of the appraisal under Section 4.
5. If the town does not complete the purchase by June 30, 2024, the Commissioner may sell, lease, or otherwise convey the land to other purchasers or lessees using competitive bidding processes.
Committee Categories
Budget and Finance
Sponsors (1)
Other Sponsors (1)
Joint Committee on State Administration and Regulatory Oversight (J)
Last Action
New draft substituted, see H5448 (on 12/29/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
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State Bill Page | https://malegislature.gov/Bills/192/H5415 |
Bill | https://malegislature.gov/Bills/192/H5415.pdf |
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