NC H596

Modifies G.S. 146-30 to establish new allocation requirements for net proceeds from disposition of state-owned real property, effective July 1, 2011 through January 1, 2016.

For property with appraised value exceeding $6,000,000, all net proceeds go to the General Fund.

For property with appraised value of $6,000,000 or less, net proceeds are split as follows: 25% to the originating state agency, 25% to the General Fund, and 50% to the Teachers' and State Employees' Retirement System of North Carolina.

Prohibits division of state lands or contracts to circumvent the $6,000,000 appraised value threshold.

Maintains existing requirement that land exchanges valued at $25,000 or more must be approved by the Joint Legislative Commission on Governmental Operations.