AN ACT TO AUTHORIZE THE ACQUISITION OR CONSTRUCTION AND THE FINANCING, WITHOUT APPROPRIATIONS FROM THE GENERAL FUND, AND TO MAKE TECHNICAL CORRECTIONS FOR APPROPRIATIONS RELATED TO CERTAIN CAPITAL IMPROVEMENT PROJECTS OF THE CONSTITUENT INSTITUTIONS OF THE UNIVERSITY OF NORTH CAROLINA. SL 2022-15. Enacted June 29, 2022. Effective June 29, 2022.
Summary date: Jun 30 2022 - View summary
Summary date: Jun 7 2022 - View summary
House committee substitute to the 2nd edition makes the following changes.
Places the existing content into Section 1 of the act and makes conforming changes. Adds the following new content.
Amends Section 40.1 of the 2021 Appropriations Act, SL 2021-180, as amended by Section 9.1 of SL 2021-189, adjusting the total project authorization amounts listed, as specified, for two capital improvement project codes that were allocated funds from the State Capital and Infrastructure Fund to the Office of State Budget and Management for 2022-2023. Additionally, of the funds allocated to the project code UNC/R&R1, requires the allocation of $2.5 million to Elizabeth City State University (ECSU) for costs associated with project code UNC/ECS21-3, which is a project code for which the act increases the total authorization amount listed from $7.5 million to $15 million. Of the projects listed that the UNC Board of Governors is authorized to use funds allocated for project code UNC/R&R21 in the Section, eliminates Butler Residence Hall Renovations at ECSU, with a projected cost of $2.5 million, from the list.
Amends Section 40.2, SL 2021-180, to revise the schedule of capital improvement projects that will begin or be completed in fiscal years outside of the 2021-2023 fiscal biennium, with amounts needed for completion of those projects, by adjusting amounts listed for three project codes listed as specified.
Changes the act's long title.
Summary date: Jun 2 2022 - View summary
House committee substitute to the 1st edition makes the following changes. Expands upon the projects that that may be acquired or constructed and financed as provided for in the act to now also include the Bluford Street Residence Hall at NC Agricultural and Technical State University, the acquisition of P3 Housing Project at UNC Wilmington and at Western Carolina University. Increases the cost of the Integrative Sciences Building at NC State University from $80 million to $90 million. Changes the act's short title.
Summary date: May 25 2022 - View summary
Substantively identical to S 803, filed 5/25/22.
States that the act's purpose is to authorize: (1) the acquisition or construction of the capital improvement projects listed in this act for the respective UNC institutions; and (2) the financing of these projects with funds available to the institutions from gifts, grants, receipts, self-liquidating indebtedness, Medicare reimbursements for education costs, hospital receipts from patient care, or other funds, or any combination of these funds, but not funds received for tuition or appropriated from the General Fund (unless previously authorized by General Statute). Authorizes the following capital improvement projects: (1) $20 million for the Holmes Convocation Center Parking Deck at Appalachian State University; (2) $5 million for a new residence hall at Elizabeth City State University; and (3) $80 million for an integrated sciences building at NC State University. Allows the Director of the Budget, upon request of the UNC Board of Governors (BOG) and if it is in the State's best interest, to authorize an increase or decrease in the cost of, or a change in the method of, funding the projects. Allows the BOG to issue, subject to the Director of the Budget's approval, at one time or from time to time, special obligation bonds of the BOG to pay the cost of acquiring, constructing, or providing for the projects. Caps the principal amount of bonds to be issued at the specified project costs plus 5% of that amount to pay issuance expenses, fund reserve funds, pay capitalized interest, and pay other related additional costs plus any increase in the specific project costs authorized by the Director of the Budget.