Bill Summary for H 67 (2015-2016)

Summary date: 

Feb 10 2015

Bill Information:

View NCGA Bill Details2015-2016 Session
House Bill 67 (Public) Filed Tuesday, February 10, 2015
AN ACT TO PHASE OUT THE TRANSFER OF FUNDS FROM THE HIGHWAY FUND TO THE GENERAL FUND.
Intro. by Bumgardner.

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Bill summary

As the title indicates. Sets out the schedule for reducing the total amount of funds transferred each fiscal year from the Highway Fund to the General Fund, making a reduction of $49,145,745.25 in recurring funds in each of the following fiscal years: 2017-18, 2018-19, 2019-20, and 2020-21. Subsequent to the reduction in fiscal year 2020-21, eliminates the transfer of funds from the Highway Fund to the General Fund except for transfers required by statute.

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