AR SB358

Allows boards of trustees at institutions of higher education to sell land purchased or donated to the institution, unless prohibited by law or restricted by deed to public purposes only.

Establishes a formal process for selling state land valued over $500,000, requiring public notice for 21 consecutive calendar days, a public hearing in the county where the land is located, and market value determination based on average of three certified appraisals.

Routes proposed sales of state land over $500,000 to appropriate legislative committees based on land use: agricultural/timber/wetlands to Agriculture committees, transportation facilities to Transportation committees, or all other purposes to State Agencies committees.

Permits disposal of surplus state land through public sale, negotiated sale with Legislative Council or Joint Budget Committee approval, or procedures established under existing property disposal statutes.

Repeals Arkansas Code § 6-64-218 which previously allowed the University of Arkansas to sell donated land individually, consolidating higher education land sale procedures under new unified provisions.