A BILL TO BE ENTITLED
AN ACT to provide that the university of north carolina at asheville may retain the proceeds from the sale of real property and use the proceeds to construct or acquire a new chancellor's residence.
The General Assembly of North Carolina enacts:
SECTION 1.  Notwithstanding any other provision of law, the University of North Carolina at Asheville may retain the proceeds from the sale of its existing chancellor's residence and appurtenant land.  The University of North Carolina at Asheville may use the proceeds from the sale of its existing chancellor's residence and the appurtenant land and any other nonappropriated funds available to construct or otherwise acquire a new chancellor's residence.  Proceeds from the sale not used for that purpose within two fiscal years of the sale shall revert to the General Fund.
SECTION 2.  This act is effective when it becomes law.