AN ACT to clarify that the inclusion of real property on a comprehensive transportation plan is not a required disclosure or a material fact for the purposes of disclosure for real estate transactions.

The General Assembly of North Carolina enacts:

SECTION 1.  Article 9 of Chapter 39 of the General Statutes is amended by adding a new section to read:

§ 39‑51.  Inclusion of real property in a comprehensive transportation plan not a material fact.

(a)        For purposes of this section, the term financially constrained is as defined in 23 C.F.R. § 450.104.

(b)        The mere fact that real property, or any portion thereof, is included in a comprehensive transportation plan that is not financially constrained adopted pursuant to G.S. 136‑66.2 or G.S. 136‑212, or in accordance with 23 U.S.C. §§ 134 or 135, shall not, standing alone, be deemed material. This subsection shall apply to all of the following:

(1)        Offering real property for conveyance, lease, or exchange.

(2)        Any other real estate transaction, including those listed in G.S. 47E‑1(1)‑(4).

A party to the conveyance, lease, exchange, or transaction, or an agent of any said party, shall not knowingly make a false statement regarding the property's inclusion on any transportation plan.

SECTION 2.  G.S. 47E‑4 reads as rewritten:

§ 47E‑4.  Required disclosures.

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(b3)      The inclusion of real property in a comprehensive transportation plan that is not financially constrained adopted pursuant to G.S. 136‑66.2 or G.S. 136‑212, or in accordance with 23 U.S.C. §§ 134 or 135, shall not be considered a required disclosure as provided in this section, provided, however, that no person subject to this Chapter, or an agent of a person subject to this Chapter, shall knowingly make a false statement regarding any such fact. For purposes of this subsection, the term financially constrained is as defined in 23 C.F.R. § 450.104.

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SECTION 3.  This act becomes effective October 1, 2021, and applies to claims for relief filed on or after that date.