TO ENACT THE BALANCED BUDGET ACT OF 2011.
Senate amendment #2 makes the following changes to 2nd edition. Deletes the transfer of $4.7 million from the Cap University Cancer Research Fund to the General Fund. Also amends the following transfers to the General Fund: (1) changes the $1 million transfer from the Industrial Commission from over-realized receipts to the IT Projects Fund, (2) deletes transfer from the General Assembly Reserve, and (3) deletes the transfer from the Department of Insurance Reserve. Makes conforming changes to the availability amounts and balance remaining. Adds a new section stating that effective June 30, 2011, specified amounts from the General Assembly Reserve and the Department of Insurance Reserves are reverted to the General Fund (these are the same amounts that were transferred to the General Fund in the previous edition of the bill). Provides that GS 143C-1-2(b) (concerning the reversion of unencumbered balances) does not apply to the reversion from the General Assembly Reserve. Adds a new section amending Section 14.15 of SL 2009-451 (concerning transfer from the Industrial Commission IT Fund) to provide that for the 2010-11 fiscal year, the Industrial Commission may retain all overrealized receipts (was, may retain the additional revenue generated as a result of an increase in the fee charged to parties filing compromised settlements). Also deletes the provision prohibiting the Industrial Commission from retaining any fees under the section unless they exceed the former $200 fee charged for filing a compromised settlement. Makes technical changes.