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 undergoing an appraisal by two independent licensed appraisers, and the property must not be sold for 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 with a proposed sale price of $150,000 or greater.

Furthermore, the bill establishes that real property gifted or devised to the commission, council, or governing boards cannot be disposed of without adhering to similar public notice and hearing requirements. It also increases the threshold for leasing real property from $50,000 to $150,000, which must comply with the same public notice obligations. The net proceeds from any sale or transfer of property must be deposited into a special revenue account in the State Treasury, and transactions between the governing boards and other public bodies or corporations will be governed by specific articles of the code.

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