Loading chat...

NC H564

Bill

Official Source

Status

Introduced

3/30/2011

Primary Sponsor

Susan Fisher

Click for details

Origin

House of Representatives

2011-2012 Session

AI Summary

  • Changes the school capital construction formula in North Carolina's state lottery act to allocate all funds based on average daily membership by budget year
  • Removes the previous 65%-35% split formula that allocated 65% based on average daily membership and 35% to counties with above-average tax rates
  • Eliminates provisions defining "effective county tax rate," "state average effective tax rate," and related sales assessment ratio studies
  • Maintains that counties are not required to provide matching funds for school construction projects and may use lottery funds to retire construction-related indebtedness incurred after January 1, 2003
  • Takes effect July 1, 2011

Legislative Description

School Capital Fund Formula/Lottery Proceeds

Last Action

Ref to the Com on Education, if favorable, Finance, if favorable, Appropriations

3/31/2011

Committee Referrals

Education3/31/2011

Full Bill Text

No bill text available