NC S109

Directs the Director of the Budget to increase General Fund availability for fiscal year 2011-2012 by $537,740,799 through spending reductions and fund transfers.

Authorizes the Governor to reduce General Fund expenditures for the remainder of fiscal year 2010-2011, including all constitutional powers to balance the budget.

Allows identification and transfer of non-General Fund accounts to the General Fund on June 30, 2011 to meet the spending reduction target.

Exempts the Judicial Branch and Legislative Branch from the spending cut requirements.

Applies only to fiscal year 2010-2011 and became effective upon passage on March 25, 2011.