Provides that an agency real estate professional may determine the fair market value of real property the department of transportation (INDOT) owns and is seeking to sell under certain conditions. Makes conforming changes. Provides that real property shall be appraised prior to acquisition by INDOT, except under certain conditions concerning donation and valuation of the real property. Requires INDOT to prepare a waiver valuation if an appraisal is unnecessary. Suspends certain rules for persons preparing or reviewing a waiver valuation. Provides that INDOT may sell real property without advertising or competitive bids under certain circumstances. Extends the sunset of certain public-private agreement provisions from June 30, 2023, to June 30, 2031.
Indiana SB 157 (2022) — Disposition of real property by INDOT.
Provides that an agency real estate professional may determine the fair market value of real property the department of transportation (INDOT) owns and is seeking to sell under certain conditions. Makes conforming changes. Provides that real property shall be appraised prior to acquisition by INDOT, except under certain conditions concerning donation and valuation of the real property. Requires INDOT to prepare a waiver valuation if an appraisal is unnecessary. Suspends certain rules for persons preparing or reviewing a waiver valuation. Provides that INDOT may sell real property without advertising or competitive bids under certain circumstances. Extends the sunset of certain public-private agreement provisions from June 30, 2023, to June 30, 2031.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
Enrolled Senate Bill (S) (committee substitute) — source
Introduced Senate Bill (S) (committee substitute) — source