Sub. S.B. 353

127th General Assembly

(H. Ways & Means)

Authorizes the county treasurer and the county commissioners serving on the board of directors of a county land reutilization corporation (CLRC) to select two additional directors, who must be approved by the majority of municipal chief executives.

Removes CLRCs' express exemption from competitive bidding requirements.

Removes provisions allowing a CLRC and political subdivisions to acquire occupied, tax-foreclosed parcels without appraisal and without the parcels first being offered for sale at a sheriff's sale.

Limits the authority of a CLRC to acquire occupied land so that, at any time, not more than 25% of parcels held by a CLRC are occupied.

Permits a port authority educational and cultural facility to be financed with tax-supported securities regardless of when the required urban renewal designation was made.

S0353-127.doc/ss 12/17/08