NC H313

Creates a new streamlined process for the Department of Transportation to identify, classify, and sell unused property owned or allocated to the department for transportation purposes.

Classifies unused property into three categories (Class A, B, and C) based on development potential and establishes different sale procedures for each class, with Class A properties sold at public auction to highest bidder and Classes B and C offered first to adjacent landowners.

Requires earnest money deposits for contingent bids on Class A property lasting beyond 60 days, calculated at 1% of bid price per month, and allows upset bids at 5% above highest bid within specified timeframes.

Mandates that any unsold property be auctioned after one year, with reserve prices set at 40% of appraised value for Class A, 30% for Class B, and no reserve for Class C properties.

Requires Department to notify Governor and Council of State of sales valued at $25,000 or more, though approval is not required; Governor and Council may disapprove within 30 days to prevent the sale.