Bill Summary for S 13 (2011-2012)

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Summary date: 

Feb 2 2011

Bill Information:

View NCGA Bill Details2011-2012 Session
Senate Bill 13 (Public) Filed Monday, January 31, 2011
Intro. by Stevens, Brunstetter.

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Bill summary

Senate committee substitute makes the following changes to 1st edition.
Clarifies that the Governor is authorized to reduce General Fund expenditures for the remainder of the 2010-11 fiscal year with a goal of reducing recurring spending by at least $400 million.
Adds a section, amending Section 2.2(a) of SL 2010-31 (Appropriations Act of 2010), to make various adjustments to General Fund availability. Adds a list of various budget fund transfers to the General Fund, and revises the General Fund availability and remaining balance accordingly.
Transfers specified funds from Golden Leaf, Inc., the Health and Wellness Trust Fund, and the Tobacco Trust Fund to support General Fund appropriations for the 2010-11 fiscal year. Establishes a General Fund account in the Settlement Reserve Fund. Directs the Controller to transfer all funds in the General Account Fund to the General Fund.