WV SB881

Raises the threshold for public notice and hearing requirements on property leases from $50,000 to $150,000 annually for the Higher Education Policy Commission, Council for Community and Technical College Education, and governing boards

Requires two independent appraisals for contract sales of publicly-purchased property, with the sale price not allowed to be less than the average of the two appraisals

Removes the requirement to provide written notice to county commissions, municipalities, and legislators 10 days prior to advertising property sales of $50,000 or more

Creates separate procedures for gifted or devised property, requiring only public notice and hearing (not appraisals) before sale

Exempts transactions between higher education entities and other public bodies, as well as transactions with educational corporations, from general sale requirements