North Carolina § 146-15 - Definition of net proceeds.

§ 146-15. Definition of net proceeds.

For the purposes of this Subchapter, the term "net proceeds" means the gross amount received from the sale, lease, rental, or other disposition of any State lands, less Such expenses incurred incident to that sale, lease, rental, or other disposition as may be allowed under rules and regulations adopted by the Governor and approved by the Council of State; and Repealed by Session Laws 1993, c. 553, s. 52, effective July 24, 1993. A service charge to be paid into the State Land Fund. The amount or rate of such service charge shall be fixed by rules and regulations adopted by the Governor and approved by the Council of State, but as to any particular sale, lease, rental, or other disposition, it shall not exceed ten percent (10%) of the gross amount received from such sale, lease, rental, or other disposition. Notwithstanding any other provision of this Subchapter, no service charge shall be paid into the State Land Fund from proceeds derived from the sale of land or products of land owned or held for the use of the Wildlife Resources Commission, or purchased or acquired with funds of the Wildlife Resources Commission. History (1959, c. 683, s. 1; 1993, c. 553, s. 52.) Editor's Note. - Session Laws 2017-57, s. 36.4(c), as added by Session Laws 2018-5, s. 36.4, provides: "Notwithstanding G.S. 146-15, G.S. 146-30, and any other provision of law to the contrary, the proceeds received as a result of the reallocation of property between the Department of Agriculture and Consumer Services and the Department of Military and Veterans Affairs for the construction of a nursing facility shall be retained by the Department of Agriculture and Consumer Services and are hereby appropriated to the Department of Agriculture and Consumer Services to be used for improvements at the State Fairgrounds." Session Laws 2018-5, s. 1.1, provides: "This act shall be known as the 'Current Operations Appropriations Act of 2018.'" Session Laws 2018-5, s. 39.4, provides: "Except for statutory changes or other provisions that clearly indicate an intention to have effects beyond the 2018-2019 fiscal year, the textual provisions of this act apply only to funds appropriated for, and activities occurring during, the 2018-2019 fiscal year." Session Laws 2018-5, s. 39.7, is a severability clause.