Bill Summary for S 525 (2013-2014)
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Summary date:
Mar 28 2013
Bill Information:
| View NCGA Bill Details | 2013-2014 Session |
A BILL TO BE ENTITLED AN ACT TO PROTECT THE TAXPAYERS OF NORTH CAROLINA FROM THE DIVERSION OF FUEL TAX PROCEEDS FOR NONTRANSPORTATION USES BY REQUIRING THAT THE UNRESERVED CREDIT BALANCE IN THE HIGHWAY FUND BE USED FOR ROAD-RELATED USES.Intro. by Tarte, Rabon, Harrington.
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Bill summary
Identical to H 157, filed 2/26/13.
Amends GS 136-44.2 as the title indicates. Requires that the unreserved credit balance in the Highway Fund (the excess) on the last day of a fiscal year, which exceeds the amount estimated in the Current Operations Appropriations Act for the following fiscal year, be allocated to either a reserve for (1) access and public roads or (2) for other urgent road construction or road maintenance needs. Prohibits the funds from this reserve being used for any other urgent road construction or road maintenance need (was, an other urgent need) project from being used for an economic development purpose (was, administrative costs, information technology costs, or economic development). Effective July 1, 2014.