As title indicates. Allows the lease to include rental at less than fair market value, and excepts the lease from prior approval by the State Board of Community Colleges. Allows the board of trustees of Guilford Technical Community College (GTCC) to use lease proceeds for current operating expenses or for capital outlay purposes. Enacts new subdivision (3f) to GS 66-58(c), allowing GTCC personnel and facilities to be used in support of economic development through the operation of the Donald W. Cameron Campers of GTCC and its companion facilities as an event venue, with generated proceeds paying for operational costs, venue support, or to support the college mission.