A BILL TO BE ENTITLED
AN ACT clarifying the type of property that shall revert to the original grantor if the greater asheville regional airport ceases to operate or the greater asheville regional airport authority is dissolved.
The General Assembly of North Carolina enacts:
SECTION 1.  Section 1.7(a) of S.L. 2012‑121 reads as rewritten:
"SECTION 1.7.(a)  The Authority is hereby authorized and empowered to acquire from the Counties of Buncombe and Henderson and the City of Asheville, by agreement therewith, and such Counties and City may grant and convey, either by gift or for such consideration as allowed by federal law and as it may be deemed wise, any real and/or personal property which it now owns or may hereafter acquire, and which may be necessary, beneficial, or helpful for the construction, development, operation, and/or maintenance of any airport or facilities of same located in the Counties of Buncombe or Henderson. If the airport ceases to operate or if the Authority is dissolved, any applicable real property of the Counties of Buncombe or Henderson or the City of Asheville conveyed or transferred to the Authority under this act and not subsequently sold or exchanged for another property by the Authority shall revert to the grantor."
SECTION 2.  This act is effective when it becomes law and applies to property conveyed, transferred, sold, or exchanged for another property by the Greater Asheville Regional Airport Authority on or after that date.