Bill Summary for H 1107 (2013-2014)
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Summary date:
May 15 2014
Bill Information:
| View NCGA Bill Details | 2013-2014 Session |
A BILL TO BE ENTITLED AN ACT TO RESTORE THE ALLOCATION OF LOTTERY FUNDS FOR SCHOOL CONSTRUCTION.Intro. by Holloway, J. Bell, Saine, Jones.
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Bill 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.