North Carolina General Statutes 146-30.2. Calculation of net proceeds from the sale of State-owned real property located outside the State Capitol area
(a) Limitation. – Notwithstanding N.C. Gen. Stat. § 146-30 or any other provision of law, net proceeds from the sale of State-owned real property that is located outside of the State Capitol area shall be calculated in accordance with this section.
(b) State Capitol Area. – For the purposes of this section, the term “State Capitol area” shall mean that area of land located in the City of Raleigh and situated within the following boundaries:
(1) Peace Street on the north.
Terms Used In North Carolina General Statutes 146-30.2
- following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
- property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
(2) Capital Blvd./Dawson Street on the west.
(3) Morgan Street on the south.
(4) Person Street on the east.
(c) Calculation of Net Proceeds. – For the purposes of this section, the term “net proceeds” means the gross amount received from the sale of State-owned real property located outside of the State Capitol area, less the following:
(1) Any expenses incurred incident to that sale as may be allowed under rules and regulations adopted by the Governor and approved by the Council of State.
(2) A service charge to be paid into the State Land Fund, unless such service charge is prohibited by N.C. Gen. Stat. § 146-30
(3) An amount equal to twelve and one-half percent (12.5%) of the gross amount received to be paid into the North Carolina Land and Water Fund established under N.C. Gen. Stat. § 143B-135.234(a).
(4) An amount equal to twelve and one-half percent (12.5%) of the gross amount received to be paid into the Parks and Recreation Trust Fund established under N.C. Gen. Stat. § 143B-135.56(a).
(d) Application of Proceeds. – Except as otherwise provided in this section, net proceeds shall be handled in accordance with the provisions of N.C. Gen. Stat. § 146-30
(e) Exception. – This section shall not apply to proceeds derived from the sale of land or property originally purchased with, under the supervision and control of, or maintained with funds from the State Highway Fund, the Department of Agriculture and Consumer Services, the Wildlife Resources Commission, or proceeds derived from the disposition of residue property pursuant to N.C. Gen. Stat. § 136-19.7 (2020-16, s. 2; 2021-180, s. 20.11(a); 2023-70, s. 9(f).)