NC S366

Appropriates $3,000,000 in nonrecurring funds for fiscal year 2021-2022 and $2,000,000 in nonrecurring funds for fiscal year 2022-2023 to Cape Fear Regional Theatre at Fayetteville, Inc. for renovation and transformation.

Requires CFRT to raise $1,000,000 in non-State funds during 2021-2022 and $1,000,000 in non-State funds during 2022-2023 to match the State appropriations.

For 2021-2022, CFRT receives $1,000,000 upon raising $500,000 in non-State funds, then receives the final $2,000,000 upon raising an additional $500,000 (total $1,000,000 in non-State funds).

For 2022-2023, CFRT receives $2,000,000 upon raising $1,000,000 in non-State funds.

Act becomes effective July 1, 2021.