SB 596 - Current law provides that the Governor may not convey or otherwise transfer title to real property owned or acquired by the state, unless such conveyance or transfer is first authorized by an act of the General Assembly. This act creates an exception to this requirement which would authorize the Office of Administration to sell, lease or otherwise transfer certain unused or underutilized property to a for-profit or not-for-profit entity. The Office of Administration may use a licensed real estate broker to facilitate the conveyance, provided that the broker may collect a fee up to twenty-five percent of the value of the sale or lease. The Office of Administration will be responsible for determining what state property is unused or underutilized.
The revenue from these sales and leases will be deposited into the State Road Fund.
SCOTT SVAGERA