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) through (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, 2023, and applies to claims for relief filed on or after that date.