federal government; land acquisition; consent

This bill requires the Arizona Legislature to give explicit approval before the federal government can acquire private land within the state that would remove it from property tax rolls. To enforce this, the law mandates that real estate transactions involving federal purchases must go through a specific escrow process where the sale is reported to legislative leaders and reviewed by a joint committee. If the committee approves the sale, the legislature must pass a joint resolution granting consent; if it does not, the state gains the right to purchase the property itself. The legislation also establishes penalties for failing to follow these notification procedures and clarifies that these rules do not apply to existing federal mortgages or Indian trust lands.