Bill Summary for S 218 (2019-2020)

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Summary date: 

Jul 8 2019

Bill Information:

View NCGA Bill Details2019-2020 Session
Senate Bill 218 (Public) Filed Monday, March 11, 2019
AN ACT TO AMEND THE STATE RECOGNITION OF THE LUMBEE TRIBE OF NORTH CAROLINA, TO MAKE CHANGES REGARDING THE CONVEYANCE OF THE LUMBEE TRIBE CULTURAL CENTER, AND TO ESTABLISH THE LUMBEE TRIBE OF NORTH CAROLINA TRUST FUND.
Intro. by Britt, Bishop, McInnis.

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Bill summary

House committee substitute to the 3rd edition makes the following changes.

Enacts new GS 147-69.6A establishing the Lumbee Tribe of North Carolina Trust Fund as a special fund in the Office of the State Treasurer under the Treasurer's management. Provides that the Fund consists of funds received by the Lumbee Tribe of North Carolina for the sale or lease of natural resources from the property described as Parcel 1 in SL 2013-186 and the interest and other investment income earned by the Fund. Allows assets in the Fund to be disbursed only to the Lumbee Tribal Administration for (1) payment of property taxes on the property, upon receipt of a property tax bill or (2) the reforestation of the property under the supervision of a consulting forester, upon receipt of an invoice for the services of the consulting forester or the purchase and installation of seedlings or saplings. 

Amends Section 4 of the act to require that the funds received from the sale or lease of natural resources from the property described as parcel 1 in SL 2013-186 be deposited into the Lumbee Tribe of North Carolina Trust Fund, instead of into an escrow account and limits the uses of those funds to the conditions of that Trust Fund. Removes the reporting requirement. 

Amends GS 147-69.2 (Investments authorized for special funds held by State Treasurer) to make the statute applicable to funds held by the State Treasurer to the credit of the Lumbee Tribe of North Carolina Trust Fund.

Makes conforming changes to the act's long title.