Enacts new GS 143C-6-24 requiring that a nonprofit entity must meet all of the following criteria to be eligible to receive state funds: (1) receive at least 35% of its funding from private sources; and (2) limit its administrative expenses to no more than 15% of the total budget or receipts for the nonprofit entity.
Provides that the Office of State Budget and Management may suspend disbursement of funds to a nonprofit entity that violates the eligibility requirements and may try to recover grant funds that have already been disbursed under GS 143C-6-23(f) (suspension and recovery of funds to grant recipients for noncompliance).
Requires a non-state entity that is a nonprofit corporation that receives a state grant to certify annually that it is in compliance with this section pursuant to GS 143C-6-23(d) (office of state budget rules must require uniform administration of state grants).
Makes a conforming change to GS 143C-6-23(d)(6).
Effective July 1, 2011, and applies to grants of state funds awarded on or after that date.
Bill Summary for S 460 (2011-2012)
Mar 29 2011
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TO PROVIDE THAT A NONPROFIT CORPORATION IS ELIGIBLE TO RECEIVE A STATE FUNDED GRANT ONLY IF IT MEETS CERTAIN CRITERIA.Intro. by Brock.
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Identical to H 100, filed 2/15/11.