Bill Text: NC H67 | 2015-2016 | Regular Session | Amended

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Bill Title: Phase Out Certain HF Transfers

Spectrum: Partisan Bill (Republican 4-0)

Status: (Introduced - Dead) 2015-02-11 - Ref to the Com on Transportation, if favorable, Appropriations [H67 Detail]

Download: North_Carolina-2015-H67-Amended.html

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GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2015

H                                                                                                                                                    1

HOUSE BILL 67

 

 

Short Title:        Phase Out Certain HF Transfers.		(Public)
Sponsors:	Representative Bumgardner (Primary Sponsor). For a complete list of Sponsors, refer to the North Carolina General Assembly Web Site.
Referred to:	Transportation, if favorable, Appropriations.

February 11, 2015

A BILL TO BE ENTITLED

AN ACT to phase out the transfer of funds from the highway fund to the general fund.

The General Assembly of North Carolina enacts:

SECTION 1.  The total amount of funds transferred each fiscal year from the Highway Fund to the General Fund shall be reduced according to the following schedule:

(1)        For the 2017‑2018 fiscal year, the total amount of funds transferred shall be reduced by forty‑nine million one hundred forty‑five thousand seven hundred forty‑five dollars and twenty‑five cents ($49,145,745.25) in recurring funds.

(2)        For the 2018‑2019 fiscal year, the total amount of funds transferred shall be reduced by an additional forty‑nine million one hundred forty‑five thousand seven hundred forty‑five dollars and twenty‑five cents ($49,145,745.25) in recurring funds.

(3)        For the 2019‑2020 fiscal year, the total amount of funds transferred shall be reduced by an additional forty‑nine million one hundred forty‑five thousand seven hundred forty‑five dollars and twenty‑five cents ($49,145,745.25) in recurring funds.

(4)        For the 2020‑2021 fiscal year, the total amount of funds transferred shall be reduced by an additional forty‑nine million one hundred forty‑five thousand seven hundred forty‑five dollars and twenty‑five cents ($49,145,745.25) in recurring funds and, except for transfers required by statute, any transfer of funds from the Highway Fund to the General Fund shall be eliminated.

SECTION 2.  This act is effective when it becomes law.