2004 Session

Budget Amendments - SB30 (Committee Approved)

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VCCS - Surplus Real Property (language only)

Item 230 #5s

Item 230 #5s

Education: Higher Education
Virginia Community College System

Page 465, after line 44, insert:  
"Sale or lease of interest in real property granted by purchase, deed or gift; the State Board for Community Colleges shall be authorized to lease, sell, or convey any interest it may have in real property that has been or may hereafter be acquired by purchase, will or deed of gift provided that the terms of the lease, sale or conveyance have been reviewed by the Department of General Services to ensure that a fair market value for the use or purchase of the property has been agreed to by all parties. Notwithstanding any other provisions of law, all proceeds from such leases, sales and conveyances shall be held, used and administered by the Virginia Community College System in the same manner as all other gifts and bequests are held, used and administered.".

(This amendment allow the Virginia Community College System to maintain proceeds from the sale or lease of property donated by local governments or purchased through nongeneral funds.)