Bill Summary for S 814 (2019-2020)

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Summary date: 

Jun 3 2020

Bill Information:

View NCGA Bill Details2019-2020 Session
Senate Bill 814 (Public) Filed Tuesday, May 19, 2020
Intro. by Brown, Harrington, B. Jackson.

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Bill summary

Senate committee substitute makes the following changes to the 1st edition.

Modifies the appropriations provisions. Previously, appropriated an unspecified amount of recurring funds from the General Fund to the UNC Board of Governors (UNC BOG) for 2020-21 to be allocated for the NC Promise Tuition Plan. Now, directs the following transfers to the Institutional Programs, UNC BOG budget code by August 15, 2020: (1) directs the Office of State Budget and Management (OSBM) to transfer $10 million in nonrecurring funds from the cash balance of the Education Lottery Reserve Fund; and (2) directs the Department of Public Instruction (DPI) to transfer $5 million in nonrecurring funds from the cash balance of the School Bus Replacement Fund. Appropriates the transferred funds to UNC BOG for 2020-21 for the NC Promise Tuition Plan, as previously specified. Modifies legislative intent stated for future appropriations for 2021-22 through 2024-25 for the purpose of buying down financial obligations at the previously specified institutions, increasing the intended amount of appropriations for the 2021-22 fiscal year from $5 million to $20 million in recurring funds. Maintains the act's general provisions and effective date of July 1, 2020.