NC H372

Redirects deed stamp excise tax proceeds from the General Fund to conservation-related trust funds, eliminating the previous practice of crediting all proceeds to the General Fund

Allocates the state's share of deed stamp excise tax proceeds as follows: 30% to Parks and Recreation Trust Fund, 30% to Land and Water Fund, 30% to Coastal Storm Damage Mitigation Fund, and 10% to North Carolina Agricultural Development and Farmland Preservation Trust Fund

Counties retain the first half of deed stamp excise tax proceeds for their general funds and may retain an additional 2% for administrative costs in collecting and remitting the state's share

Updates four trust fund statutes to explicitly recognize deed stamp excise tax as a revenue source for Parks and Recreation, Land and Water, Agricultural Development and Farmland Preservation, and Coastal Storm Damage Mitigation funds

Becomes effective July 1, 2021