Sale of surplus real property by state agency to qualifying entity for pre-entitlement appraised value -- Deferred payment.

(1) As used in this section, "qualifying entity" means a state agency or an independent entity, as defined in Section 63E-1-102, that administers public interests in housing. (2) A state agency may provide for the sale of the state's surplus real property to a qualifying entity for a pre-entitlement appraised value, payment of which may be deferred, as determined by the state agency and subject to state and federal law.