Budget & Taxes (Procurement)

HB 239 sets a price cap for the East Baton Rouge Redevelopment Authority when selling property acquired with public funds. Specifically, it limits sales to nonprofits or local governments for public use or redevelopment areas to no more than 110% of the original public acquisition cost. This directly affects the Redevelopment Authority, nonprofits, and local government entities purchasing such property. The bill modifies existing law to ensure property sold for public purposes doesn't exceed this 110% threshold, overriding other provisions that might allow higher prices.