NC S409

Reorganizes the North Carolina Global TransPark Authority's governance by reducing Governor-appointed board members from seven to six and adding the Secretary of Commerce as an ex officio member, with specific industry representation requirements for all appointed members.

Modifies board member terms so that General Assembly-appointed members serve staggered four-year terms expiring June 30, 2013 and June 30, 2015, with subsequent terms renewable every four years.

Requires the Authority to submit annual written reports to the Governor and General Assembly including quarterly and annual financial statements, performance measures on job creation and wages, and copies posted on the Authority's public website.

Appropriates $17,500,000 from Statewide Reserves to repay an outstanding loan to the Escheat Fund from the Global TransPark Authority.

Extends the maturity date for Global TransPark Authority obligations held by the Escheat Fund from October 1, 2011 to October 1, 2012, and directs future grants from The Golden Leaf Foundation to the Authority to first be applied toward repaying the Escheat Fund loan.