Bill Summary for H 157 (2013-2014)

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Bill: LIMIT USE OF HIGHWAY FUND CREDIT BALANCE.

Summary date: 

Feb 26 2013
S.L. 2013-125

Bill Information:

View NCGA Bill Details2013-2014 Session
House Bill 157 (Public) Filed Tuesday, February 26, 2013
A BILL TO BE ENTITLED AN ACT TO PROTECT THE TAXPAYERS OF NORTH CAROLINA FROM THE DIVERSION OF FUEL TAX PROCEEDS FOR NONTRANSPORTATION USES BY REQUIRING THAT THE UNRESERVED CREDIT BALANCE IN THE HIGHWAY FUND BE USED FOR ROAD-RELATED USES.
Intro. by Jeter, B. Brown, Dobson, Szoka.

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Bill summary

Amends GS 136-44.2 as the title indicates. Requires that the unreserved credit balance in the Highway Fund (the excess)on the last day of a fiscal year, whichexceeds the amount estimated in theCurrent Operations Appropriations Act for the following fiscal year, be allocated to either a reserve for (1) access and public roads or (2) for other urgent road construction or road maintenance needs. Prohibits the funds from this reserve being used for any other urgent road construction orroad maintenance need (was, an other urgent need)projectfrom being used for an economic development purpose (was, administrative costs, information technology costs, or economic development). Effective July 1, 2014.