NC S738

Transfers $3,000,000 from the Coronavirus Relief Reserve to the Coronavirus Relief Fund for the 2019-2020 fiscal year to support nonprofit arts organizations impacted by COVID-19.

Appropriates $3,000,000 in nonrecurring funds to the Department of Natural and Cultural Resources for allocation through the North Carolina Arts Council to nonprofit arts organizations for operational continuity.

Requires funds to comply with the April 22, 2020, Coronavirus Relief Fund Guidance from the U.S. Department of the Treasury and directs the Department and Council to develop disbursement criteria.

Makes appropriated funds available to expend until December 30, 2020, and requires the Arts Council to report on fund distribution by August 1, 2020, and recipient use by February 1, 2020.

Establishes that if federal law disallows any allocation, the disallowed amount is repealed and transferred back to the Coronavirus Relief Reserve, with nonprofit recipients required to return any disallowed funds.