Amends TCA Section 12-2-112 and Section 49-8-111.

Present law authorizes the commissioner of general services, with the approval of the governor and attorney general, to sell, lease or otherwise convey any interest in surplus state real property and establishes certain requirements for such conveyances. One such requirement is, in regard to sales in fee, and to any conveyance of any interest or rights in minerals, coal, natural gas, oil, timber and any other energy-related resources, that the property must be appraised by at least two independent, qualified appraisers, wholly disconnected from state government or any other legal governmental entity except as may otherwise be determined by the state building commission. This bill revises the appraisal provisions described above to instead require only one appraisal, and to authorize the state building commission to require a second appraisal be completed by a qualified appraiser, wholly disconnected from the first appraiser, prior to the disposal of the property. Similarly, present law authorizes every college and university to sell or convey any lot, plot or tract of land that has been acquired through purchase, gift, devise or by any other means; and requires the college or university to obtain certified appraisals of the land from two recognized real estate appraisers in the locality of the college or university. This bill revises this provision to require only one appraisal and to authorize the state building commission to require that a second appraisal be completed by a qualified appraiser, wholly disconnected from the first appraiser, prior to the disposal of the property.