CSSB 190(RES): "An Act establishing a residency requirement for auctions of state land."

00CS FOR SENATE BILL NO. 190(RES) 01 "An Act establishing a residency requirement for auctions of state land." 02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 03 * Section 1. AS 38.05.055 is amended to read: 04  Sec. 38.05.055. AUCTION SALE PROCEDURES. Unless another method of 05 sale is required under this chapter, AS 38.07, or AS 38.08, the sale of state land shall 06 be made at public auction to the highest qualified bidder as determined by the director. 07 The director may accept bids and sell state land under this section at no less than 70 08 percent of the appraised fair market value of the land. To qualify to participate 09 under this section in a public auction of state land that is other than commercial, 10 industrial, or agricultural land, a bidder who is a natural person shall have been 11 a resident of the state for at least one year immediately preceding the date of the 12 auction and submit proof of that fact, as the commissioner requires by regulation. 13 A bidder must appear in person at the auction unless medical reasons, attendance at 14 school, or military service outside the state prevent attendance. A bidder may be

01 represented by an attorney or agent at the auction if the land offered for disposal is 02 commercial, industrial, or agricultural land. An aggrieved bidder may appeal to the 03 commissioner within five days after the sale for a review of the director's 04 determination. The sale shall be conducted by the director and at the time of sale the 05 successful bidder shall deposit an amount equal to five percent of the purchase price. 06 The director shall immediately issue a receipt containing a description of the land or 07 property purchased, the price bid, and the amount deposited. The receipt shall be 08 acknowledged in writing by the bidder.