AN ACT TO REQUIRE THAT THE PROCEEDS OF CERTAIN DISPOSITIONS OF STATE-OWNED REAL PROPERTY BE USED IN PART TO SUPPORT THE GENERAL FUND, IN PART TO SUPPORT THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM OF NORTH CAROLINA, AND IN PART TO SUPPORT THE AGENCIES TO WHICH THE PROPERTY WAS ALLOCATED; AND TO APPROPRIATE FUNDS FOR THESE PURPOSES. Summarized in Daily Bulletin 4/5/11, 5/19/11, 5/23/11, and 6/16/11. Enacted June 27, 2011. Sections 1 and 2 are effective July 1, 2011. The remainder is effective June 27, 2011.
Bill Summaries: H 596 TRANSFER SURPLUS PROP. TO RETIREMENT SYSTEM.
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Tracking:
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Summary date: Jun 30 2011 - View Summary
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Bill H 596 (2011-2012)Summary date: Jun 16 2011 - View Summary
Senate amendment makes the following changes to 3rd edition. Provides that for the 2011-13 fiscal biennium, the provisions of Section 6.15(c) of SL 2011-145 supersede the provisions of GS 146-30 as amended by the act. Provides that, for the 2011-2013 fiscal biennium, the net proceeds from the disposition of state-owned disposal assets exceeding a specified amount, may be allocated in accordance with GS 146-30 as amended by the act. These provisions are effective when the act becomes law.
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Bill H 596 (2011-2012)Summary date: May 23 2011 - View Summary
House amendment makes the following change to 2nd edition. Adds language to GS 146-30(a) to forbid state lands or contracts being divided for the purpose of evading the appraised value of the provisions of Subchapter II of GS Chapter 146.
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Bill H 596 (2011-2012)Summary date: May 19 2011 - View Summary
House committee substitute makes the following changes to 1st edition.
Deletes all provisions of 1st edition and replaces with AN ACT TO REQUIRE THAT THE PROCEEDS OF CERTAIN DISPOSITIONS OF STATE-OWNED REAL PROPERTY BE USED IN PART TO SUPPORT THE GENERAL FUND, IN PART TO SUPPORT THE TEACHERS’ AND STATE EMPLOYEES’ RETIREMENT SYSTEM OF NORTH CAROLINA, AND IN PART TO SUPPORT THE AGENCIES TO WHICH THE PROPERTY WAS ALLOCATED; AND TO APPROPRIATE FUNDS FOR THESE PURPOSES. Amends GS 146-30(a), providing that specified net proceeds will be applied first in accordance with the provisions of certain trusts or title instruments, then applied according to an act of the General Assembly, and third, applied as follows: (1) deposit with the State Treasurer to support the General Fund if the appraised value of land exceeds $6 million; (2) deposited according to specified percentages if the value of the land does not exceed $6 million. Enacts new subsection (a1) to GS 146-30, stating that the statute does not prohibit the disposition of state lands by exchange for other lands; however, if the appraised value in fee simple of any property involved in the exchange is at least $25,000, then the exchange may not be made without consulting the Joint Legislative Commission on Governmental Operations. Effective July 1, 2011, and expires January 1, 2016.
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Bill H 596 (2011-2012)Summary date: Apr 4 2011 - View Summary
Enacts new GS 143-341(4)e1. adding the power to identify and dispose of surplus state-owned real property to the Department of Administration’s (Department) list of powers and duties.
Enacts new Article 19, Surplus State-Owned Real Property, providing for the identification and management of surplus state-owned real property. Defines surplus state-owned real property as real property with title vested in the state that is unused or underused and no longer needed for state purposes. Directs the Department to continuously review the current uses of state-owned real property (property) to determine whether the property is surplus. Directs the Department to conduct the required review at least every two years for every piece of property with an appraised value of at least $25,000. Lists nine factors for the Department to consider when determining whether the property is surplus. Specifies that the review of property will not be based solely on qualitative or categorical information, but will also include quantitative data. Instructs the Department to report the determination that a piece of property is surplus to specified entities, and to include a statement that the property will be disposed as required. Details the timeline for transferring surplus property and the effect of a bill disapproving the transfer. Transfers title to the surplus property to the Teachers’ and State Employees’ Retirement System (Retirement System), effective on the property’s transfer date. Specifies that the conveyance will not require approval by the Governor and Council of State. States that the transferred property becomes an asset of the Retirement System within the meaning of Section 6 of Article V of the NC Constitution, and any net proceeds derived from the sale, lease, or other disposition remain funds of the Retirement System. Requires the State Treasurer to manage transferred property, as detailed. Directs the Department to sell, lease, or rent transferred property in a manner similar to other state-owned real property, except as detailed. Specifies that the net proceeds, as defined, of any disposition of transferred property are appropriated in the following priority: (1) in accordance with any trust or other instrument of title under which title to the property was acquired and (2) the remainder remitted to the State Treasurer to be deposited in the Retirement System. Requires state agencies to provide the Department any applicable information, as requested. Instructs the Department to report in writing on a quarterly basis to specified entities, including two types of detailed information. Explains restrictions on property disposition.
Enacts new GS 147-86.3, directing the State Treasurer to determine whether any disposition of transferred property is in the best interest, as defined, of the Retirement System, and to identify the best type of disposition. Includes additional provisions related to disposition of transferred property.
Effective October 1, 2011.