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1996 SESSION

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HB 643 Sale or lease of surplus state property.

Introduced by: A. Victor Thomas | all patrons    ...    notes | add to my profiles

SUMMARY:

Department of General Services; Division of Engineering and Buildings; sale or lease of surplus state property. Strikes the current Code provision that requires 50 percent of the proceeds from the sale or lease of surplus state property to be placed into the Conservation Resources Fund and 50 percent into the general fund of the Commonwealth. Provides that such proceeds be deposited into special funds as follows: 50 percent for capital facility improvements for public institutions of higher education; 25 percent for capital facility improvements for health and human resources institutions; and 25 percent for the Conservation Resources Fund. The bill also removes the crediting of such proceeds to the agency, institution, etc., which was in control of the property at the time of its sale or lease. The bill excludes proceeds derived from the sale of Camp Pendleton.


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