AN ACT TO APPROPRIATE FUNDS FOR THE UNIVERSITY OF NORTH CAROLINA BUILDING RESERVE FOR CERTAIN BUILDING PROJECTS.
Senate committee substitute deletes the content of the 1st edition and now provides the following.
Directs the Department of Administration to transfer $8.5 million in nonrecurring funds for 2020-21 from the cash balance of the E-Commerce Reserve, and the Department of Revenue to transfer $3,991,578 in nonrecurring funds for 2020-21 from the cash balance of Revenue: Project Collect Tax, to the UNC Board of Governors (BOG) by August 15, 2020. Appropriates the transferred funds to the BOG for the Building Reserve. Additionally, appropriates $118,289 in nonrecurring funds from the General Fund to the BOG for 2020-21 for the Building Reserve. Requires allocation of the appropriated funds in specified amounts to specified building projects at seven institutions: NC State University, UNC at Asheville, UNC at Greensboro, UNC at Pembroke, UNC at Wilmington, UNC School of the Arts, and Winston-Salem State University. Note, the 1st edition of the act included allocations for projects at East Carolina University, the NC School of Science and Math, and Western Carolina University.
Reenacts and incorporates by reference the State Budget Act, GS Chapter 143C.
Provides for the continued validity of 2019 legislation appropriating funds to entities covered by the act, unless expressly repealed or amended.
Effective July 1, 2020.