Section 12-24-18-6 - Laws relating to state contracts, leases, and conveyances; applicability; proceeds(a) Except as provided in this chapter, the procedures required by law for the state to: (1) enter into contracts affecting the state's real property; or(2) convey or lease the state's real property; apply to a contract, conveyance, or lease under this chapter.
(b) Notwithstanding any other law, if the state sells or leases real property under this chapter, the proceeds from that sale or lease are reappropriated to the state institution.(c) The proceeds from the sale or lease of real property under this chapter may not reduce the amount of state appropriations otherwise available to the state institution.As added by P.L. 147-1993, SEC.1. Amended by P.L. 120-1996, SEC.2.