Bill Summary for S 356 (2019-2020)

Summary date: 

Apr 11 2019

Bill Information:

View NCGA Bill Details2019-2020 Session
Senate Bill 356 (Public) Filed Tuesday, March 26, 2019
AN ACT TO MAKE REVENUE ADJUSTMENTS, IMPLEMENT BUDGET STABILIZATION MEASURES, AND ENHANCE TRANSPARENCY AND ACCOUNTABILITY AT THE DEPARTMENT OF TRANSPORTATION.
Intro. by Wells, Brown.

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Bill summary

Senate committee substitute to the 1st edition makes the following changes.

Modifies proposed 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 calculated, rather than applied, in accordance with the statute, rather than Subchapter II, Allocated State Lands, GS Chapter 146. Makes conforming changes. Removes the qualification that subjected the calculation to limitations contained in any applicable deed. Now provides for the net proceeds to be handled pursuant to GS 146-30 (general rules for application of net proceeds from dispositions) unless the statute provides otherwise (previously stated the statute does not appropriated the proceeds described). Adds an exemption from the statute's provisions for proceeds derived from the sale of land or property originally purchased with, under the supervision or control of, or maintained with funds from the State Highway Fund or proceeds derived from the disposition of residue property pursuant to GS 136-19.7. Modifies the proposed titling of the statute.

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