HB2982 S GOV AM #1 3-5
The Committee on Government Organization moved to amend the bill on page three, section one, after line thirty-seven, by adding the following:
(g) “Absolute auction” means the sale of real or personal property at auction whereby every item offered from the block is sold to the highest bidder without reserve and without the requirements of a minimum bid or other conditions which limit the sale other than to the highest bidder.
(h) "Estate auction" means the sale at auction of property of a specified deceased person or the property of a specified living person's estate. Estate auctions may contain property other than that of the specified living or deceased person. The inclusion of additional property must be included in all advertising and auction announcements.;
On page three, section two, line fourteen, after the word “organization” by changing the semicolon to a colon and inserting the following proviso: Provided, That Department shall promulgate rules to limit the number of charitable auctions that may be exempt in a 12-month period.”