HB515

Louisiana HB515 allows political subdivisions to sell adjudicated property valued under $50,000 directly to a buyer without public bidding.

Louisiana HB515 amends existing law to authorize political subdivisions to sell adjudicated property with an appraised value of less than $50,000 directly to a buyer at a fixed price without public bidding. The sale price must be established by resolution or ordinance of the governing authority. This change provides an alternative to the current requirement of a public sale to the highest bidder.