Iowa SF553 restricts the Department of Natural Resources from acquiring real property at public auctions.

Iowa SF553 imposes restrictions on the Department of Natural Resources' acquisition of real property. The bill prohibits the department from acquiring real property at public auctions. Instead, the department can only acquire property from willing donors or sellers who are not under any compulsion by the department. Additionally, the department is prohibited from purchasing property for more than its appraised value from a nonprofit corporation that bought the property at a public auction. The bill defines "auction" to include electronic, sealed bid, and conventional oral auctions.

Iowa SF553 restricts the Department of Natural Resources from acquiring real property at public auctions.

Iowa SF553 imposes restrictions on the Department of Natural Resources' acquisition of real property. The bill prohibits the department from acquiring real property at public auctions. Instead, the department can only acquire property from willing donors or sellers who are not under any compulsion by the department. Additionally, the department is prohibited from purchasing property for more than its appraised value from a nonprofit corporation that bought the property at a public auction. The bill defines "auction" to include electronic, sealed bid, and conventional oral auctions.