NC S510

State Surplus Agency shall establish a pilot program by July 1, 2017 for disposing of surplus property including motor vehicles and equipment through public auction, with the program terminating on July 1, 2019.

By October 1, 2017, the Agency shall issue two separate requests for proposals: one for non-DOT surplus equipment and one for Department of Transportation equipment, with contracts awarded by March 1, 2018 to the lowest responsible bidder.

Auction company requirements include: North Carolina auctioneer license, $250,000 cash bond, $2,000,000 liability insurance, live simulcast bidding, payment within 14 business days, and buyer premium not exceeding 10%.

Department of Transportation equipment auction proceeds shall be remitted to DOT rather than the general state surplus account, with DOT responsible for transporting equipment to regional auction sites.

State Surplus Agency shall report to the Joint Legislative Transportation Oversight Committee by October 1, 2019 on pilot program results, including property types offered, request for proposal details, auction results, and sale price comparisons to estimated values.