Bill Summary for H 491 (2011-2012)

Summary date: 

May 26 2011

Bill Information:

View NCGA Bill Details2011-2012 Session
House Bill 491 (Public) Filed Monday, March 28, 2011
TO REQUIRE A VOTE OF THE PEOPLE FOR THE STATE OF NORTH CAROLINA TO ISSUE CERTIFICATES OF PARTICIPATION.
Intro. by R. Brown, Cleveland.

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Bill summary

House committee substitute deletes all provisions of 1st edition and replaces them with AN ACT TO REPEAL THE STATE CAPITAL FACILITIES FINANCE ACT. Repeals Article 9 of GS Chapter 142 (State Capital Facilities Finance Act). Makes conforming changes by repealing the following provisions: GS 113-44.15(d) (debt provision related to Parks and Recreation Trust Fund), GS 113-77.9(b3) (debt provision related to Natural Heritage Trust Fund), and GS 113A-256(j) (debt provision related to Clean Water Management Trust Fund). Specifies that the act does not affect debt issued, incurred, or authorized to be issued or incurred before the date the act becomes law, and does not affect any authority to reimburse the General Fund for debt service on special indebtedness issued or incurred under Article 9 of GS Chapter 142.

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