NC S703

Appropriates $210,240 from the General Fund to the North Carolina Rural Electrification Authority for the 2011-2012 fiscal year.

Designated funds support operating expenses including office rent, information technology services and computers, travel expenses to cooperative sites, and legal fees for hearings and arbitrations.

Restores funds transferred in 2009 to support the General Fund, which depleted NCREA's financial reserves and forced the organization to operate on cash flow.

Prevents the NCREA from needing to increase regulatory fees on electric and telephone membership corporations to cover operating costs.

Effective date: July 1, 2011.