HB2309

THE CONTEXT: Within 30 days of entering a lease for the occupancy of a government property improvement, the government lessor must record a memorandum of the lease in the office of the county recorder in the county in which the government property is located, and submit to the county treasurer copies of the lease or an abstract of the lease. The government lessor also must maintain a public database by county, city or town or post its lease agreements on a county, city or town website in locations where the government property leases are subject to property tax ( A.

WHAT THE BILL DID: The final vetoed version would require the government lessor to include the lease or an abstract of the lease in the public database, require the government lessor to post its development agreements subject to property tax on the website of the county, city or town where the property improvement is located, and require the county treasurer to submit a report of all returns and payments received for the preceding calendar year to DOR and requires the report to be posted on the DOR website.

WHY IT MATTERED: The practical reason for this bill was to turn the Legislature's standard for gplet into an enforceable rule. It would require the government lessor to include the lease or an abstract of the lease in the public database, and would also require the government lessor to post its development agreements subject to property tax on the website of the county, city or town where the property improvement is located, rather than leave the current rule unchanged.