NC H554

Directs excess receipts in the civil penalty and forfeiture fund beyond annual General Assembly appropriations to be transferred to the School Technology Fund in the same fiscal year.

Allocates transferred excess funds to local school administrative units to be credited toward the remaining judgment in North Carolina School Boards Association v. Moore (98 CVS 14158), which found the state wrongly withheld $747,883,074 in fines and forfeitures owed to schools.

Requires the Department of Public Instruction to notify the North Carolina School Boards Association when excess funds are transferred to the School Technology Fund.

Directs the Legislative Research Commission to study and report by March 15, 2018 on sources of funding and a payment timeline (not exceeding 10 years) to satisfy the remaining judgment balance of $729,699,823.

Becomes effective when signed into law.