NC H1088

Amends G.S. 105-458 to establish specific procedures for dividing Tennessee Valley Authority payments in lieu of taxes between Graham County and Swain County based on property location within each county.

Allocates the dam between the two counties using survey marker 1475 at the power house as the dividing line, with two generators and associated equipment assessed in Graham County.

Designates two-thirds of the generator building to Graham County and one-third to Swain County, with the remaining generator and equipment in Swain County assessed in that county.

Establishes the common boundary line between Graham and Swain Counties as the center line of the Little Tennessee River, running through survey marker 1475 (the 1944 survey marker).

Effective June 1, 2012, and applies to Graham and Swain Counties only.