Bill Summaries: H1107 (2013-2014 Session)

  • Summary date: May 15 2014 - View summary

    Amends GS 18C-164 to appropriate, for 2014-15, 27% of the funds in the Education Lottery Fund to the Public School Building Capital Fund. Increases the appropriation to 33% for 2015-16 and to 40% for 2016-17. Requires that actual net revenues exceeding the amounts appropriated in a fiscal year be transferred to the Pubilc School Building Capital Fund (was, remain in the Education Lottery Fund). Makes conforming changes to GS 115C-546.2. Effective July 1, 2014.