California Assembly Bill AB1338 Amended / Bill

 BILL NUMBER: AB 1338AMENDED BILL TEXT AMENDED IN SENATE JUNE 16, 2011 AMENDED IN ASSEMBLY MAY 2, 2011 INTRODUCED BY Assembly Member Roger Hernndez FEBRUARY 18, 2011 An act to add Section 33391.1 to the Health and Safety Code, relating to redevelopment. LEGISLATIVE COUNSEL'S DIGEST AB 1338, as amended, Roger Hernndez. Redevelopment. The Community Redevelopment Law authorizes the establishment of redevelopment agencies in communities to address the effects of blight, as defined, in blighted areas in those communities known as project areas. Existing law authorizes an agency to, within a survey area or for purposes of development, purchase, lease, obtain, or acquire any real or personal property and to acquire real property by eminent domain. This bill would require  that   ,  on and after January 1, 2012,  all real property purchased or otherwise acquired in exchange for financial remuneration by an agency pursuant to the above provisions be subject to an appraisal by a qualified independent appraiser to determine the fair market value of that property   an agency to obtain an appraisal by a qualified independent appraiser to determine the fair market value of property before an agency acquires or purchases real property  . Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 33391.1 is added to the Health and Safety Code, to read: 33391.1. On and after January 1, 2012,  all real property purchased or otherwise acquired in exchange for financial remuneration by an agency pursuant to Section 33391 shall be subject to an appraisal by a qualified independent appraiser to determine the fair market value of that property.   an agency shall obtain an appraisal from a qualified independent appraiser to determine the fair market value of property before the agency acquires or purchases real property pursuant to Section 53391.