AN ACT TO MAKE REVENUE ADJUSTMENTS, IMPLEMENT BUDGET STABILIZATION MEASURES, AND ENHANCE TRANSPARENCY AND ACCOUNTABILITY AT THE DEPARTMENT OF TRANSPORTATION.
Enacts GS 146-30.2 to require the net proceeds of any sale of State-owned real property located outside of the State Capital area be applied in accordance with Subchapter II, Allocated State Lands, GS Chapter 146. Defines State Capital Area to include land in the City of Raleigh situated within the described boundaries of Peace Street, Capital Boulevard/Dawson Street, and Morgan Street. Defines net proceeds to mean the gross amount received from the real property sale less: (1) expenses incurred incident to the sale, as authorized; (2) a service charge to be paid into the State Land Fund; (3) 12.5% of the gross amount received to be paid to the Clean Water Management Trust Fund; and (4) 12.5% of the gross amount received to be paid to the Parks and Recreation Trust Fund. Clarifies that the statute does not appropriate the described proceeds. Effective July 1, 2019.
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