House Bill No. 515 amends R.S. 47:2202(D) to authorize political subdivisions in Louisiana to sell adjudicated property directly to buyers without public bidding under certain conditions. Specifically, the bill allows for the direct sale of adjudicated properties with an appraised value of less than $50,000, provided that the property was previously offered at a public sale within the last twelve months. The sale price must be established by a resolution or ordinance from the governing authority. Additionally, the bill retains the existing provision that allows adjoining landowners to purchase adjudicated property at a price set by the governing authority without public bidding, contingent upon the landowner having maintained the property for at least one year prior to the sale.

The proposed law introduces a new exception to the current regulations governing the sale of adjudicated property, which typically requires public bidding. By allowing direct sales under specified conditions, the bill aims to streamline the process for political subdivisions to dispose of low-value adjudicated properties, potentially facilitating property management and revitalization efforts in local communities.

Statutes affected:
HB515 Original: 47:2202(D)
HB515 Engrossed: 47:2202(D)