Bill Summaries: S362 (2011-2012 Session)

Tracking:
  • Bill S 362 (2011-2012)
    Summary date: Mar 16 2011 - View summary

    Under current law, the net revenues of the North Carolina State Lottery Fund are transferred four times a year to the Education Lottery Fund, and 5% of the net revenue of the previous year is transferred from the Education Lottery Fund to the Education Lottery Reserve Fund. Of the remaining net revenue, 50% is used to support class size reduction in early grades and to support academic prekindergarten programs for at risk four-year-olds, and 40% is allocated to the Public School Building Capital Fund. Amends GS 18C-164(c) to discontinue the 50% allocation to support class size reduction and pre-k programs and increases the allocation to the Public School Building Capital Fund to 90%. Retains the 10% allocation to the State Educational Assistance Authority. Makes conforming changes. Effective July 1, 2011.
    Education, Lottery and Gaming
    GS 18C

© 2022 School of Government The University of North Carolina at Chapel Hill

This work is copyrighted and subject to "fair use" as permitted by federal copyright law. No portion of this publication may be reproduced or transmitted in any form or by any means without the express written permission of the publisher. Distribution by third parties is prohibited. Prohibited distribution includes, but is not limited to, posting, e-mailing, faxing, archiving in a public database, installing on intranets or servers, and redistributing via a computer network or in printed form. Unauthorized use or reproduction may result in legal action against the unauthorized user.