Bill Summary for S 425 (2013-2014)

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Summary date: 

Mar 26 2013

Bill Information:

View NCGA Bill Details2013-2014 Session
Senate Bill 425 (Public) Filed Tuesday, March 26, 2013
A BILL TO BE ENTITLED AN ACT TO AMEND THE ALLOCATION OF FUNDS FROM THE COLLEGIATE AND CULTURAL ATTRACTION PLATE ACCOUNT THAT ARE DERIVED FROM THE SALE OF OLYMPIC GAMES PLATES.
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Bill summary

Amends GS 20-81.12(b4) to require that the money transferred quarterly from the Collegiate and Cultural Attraction Plate Account for sales of the Olympic Games plate be distributed to North Carolina Amateur Sports (was, to the NC Health and Fitness Foundation, Inc.). Requires that 67% of those funds be allocated to the US Olympic Committee to assist in training athletes and 33% be allocated to NC Amateur Sports to assist with administering the State Games of North Carolina; deletes the allocation to the Governor's Council on Physical Fitness and Health. Effective July 1, 2013.