AN ACT TO ADJUST LOCAL MATCH REQUIREMENTS FOR THE PARKS AND RECREATION TRUST FUND BASED ON THE ECONOMIC DEVELOPMENT TIER STATUS OF THE RECEIVING COUNTY.
Amends GS 143B-135.56 by amending the 30% allocation from the Parks and Recreation Trust Fund that is to be used to provide matching funds to local governmental units or public authorities. Instead of requiring a dollar for dollar match, now sets the matching requirement as: (1) a local governmental unit match of 50% for local park and recreation purposes other than those described below; (2) a local governmental unit match of 15% in tier three counties and 10% in tier one or two counties for land acquisition, with at least 50% of the local match required to be in cash and up to 50% allowed to be the value of in-kind donations by the local governmental unit; and (3) a local governmental unit match of 25% in tier three counties and 10% in tier one or two counties for park or recreation site improvements, with at least 50% of the local match in cash, and up to 50% allowed to be the value of in-kind donations by the local governmental unit. Makes conforming changes. Effective July 1, 2020.
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