Bill Summary for S 129 (2013-2014)

Summary date: 

Apr 30 2013

Bill Information:

View NCGA Bill Details2013-2014 Session
Senate Bill 129 (Public) Filed Monday, February 25, 2013
A BILL TO BE ENTITLED AN ACT TO PROHIBIT ISSUANCE OF DEBT UNDER THE STATE CAPITAL FACILITIES FINANCE ACT.
Intro. by Tucker.

View: All Summaries for BillTracking:

Bill summary

Senate committee substitute to the 1st edition makes the following changes. Deletes proposed amendments to GS 142-84 and instead amends GS 142-83 as follows. Allows the General Assembly to enact legislation to incur or issue special indebtedness only if it determines at the time the legislation is enacted that the amount of special indebtedness does not exceed the specified limitations. Provides that the determination is to be based on reasonable estimations and may be relied on as conclusive. Caps the sum of the special indebtedness authorized by the legislation and all of the special indebtedness authorized by legislation enacted after January 1, 2013, at 25% of the bond indebtedness of the state supported by the General Fund that was authorized pursuant to legislation enacted after January 1, 2013.

© 2022 School of Government The University of North Carolina at Chapel Hill

This work is copyrighted and subject to "fair use" as permitted by federal copyright law. No portion of this publication may be reproduced or transmitted in any form or by any means without the express written permission of the publisher. Distribution by third parties is prohibited. Prohibited distribution includes, but is not limited to, posting, e-mailing, faxing, archiving in a public database, installing on intranets or servers, and redistributing via a computer network or in printed form. Unauthorized use or reproduction may result in legal action against the unauthorized user.

Printer-friendly: Click to view