LD50

Municipalities in Maine gain the right to first purchase real property owned by quasi-independent state entities within their boundaries at market.

This bill grants municipalities in Maine the right of first refusal to buy real property owned by quasi-independent state entities, such as the University of Maine System, located within their boundaries. The purchase price must be the current market value determined by an independent appraiser. The municipality must notify the entity in writing of their intent to exercise this right within a specified period. If the municipality fails to complete the purchase within a set timeframe, the right expires. This provision aims to protect local interests in property sales by state entities.