GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1999

H	1 

HOUSE BILL 983

Short Title:  Property Transfers to Nonprofits.	(Public)

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Sponsors: Representatives Wainwright and Jeffus.

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Referred to:  Ways and Means.

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April 12, 1999

A BILL TO BE ENTITLED
AN ACT TO AUTHORIZE THE DEPARTMENT OF ADMINISTRATION TO TRANSFER PROPERTY TO NONPROFIT ORGANIZATIONS AT LESS THAN FAIR-MARKET VALUE WITHOUT TAKING INTO ACCOUNT WHETHER THE ORGANIZATIONS ENGAGE IN SOME FOR-PROFIT ACTIVITIES.
The General Assembly of North Carolina enacts:
Section 1.  G.S. 146-29.1(c) reads as rewritten:
"(c)	Real property owned by the State or by any State agency may be sold, leased, or rented at less than market value to a private, nonprofit corporation, association, organization or society upon a determination by the Department of Administration that such transaction is in consideration of public service rendered or to be rendered. The transaction shall be reported in detail at least 30 days prior to the sale, lease, or rental to the Joint Legislative Commission on Governmental Operations and the Fiscal Research Division of the Legislative Services Office. "
Section 2.  This act is effective when it becomes law.