This bill amends the Code of West Virginia to modify the authority of the Higher Education Policy Commission, the Council for Community and Technical College Education, and institutions of higher education regarding the sale and transfer of property. Key changes include the requirement that any real property purchased with public funds cannot be sold without first obtaining appraisals from two independent licensed appraisers, ensuring the sale price is not less than the average of those appraisals. Additionally, the bill mandates public notice of the sale, a public hearing, and written notifications to local government entities and legislators for properties valued at $150,000 or more.

Furthermore, the bill introduces new provisions that prohibit the sale of gifted or devised real property without following the same public notice and hearing requirements. It also establishes that the net proceeds from any property sale must be deposited into a special revenue account in the State Treasury, designated for the respective commission, council, or governing board. The bill clarifies that transactions between these entities and other public bodies or corporations will be governed by specific articles of the code, ensuring a structured approach to property transactions within the higher education system.

Statutes affected:
Introduced Version: 18B-19-10