GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1997

H	1 

HOUSE BILL 1198

Short Title:  Savings Reserve/School Tech. Fund.	(Public)

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Sponsors: Representatives Reynolds, Shubert; and Clary.

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Referred to:  Education, if favorable, Appropriations.

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May 1, 1997

A BILL TO BE ENTITLED
AN ACT TO TRANSFER THE INTEREST ACCUMULATED EACH QUARTER BY THE SAVINGS RESERVE ACCOUNT TO THE SCHOOL TECHNOLOGY FUND AND TO APPROPRIATE FUNDS FOR THE SCHOOL TECHNOLOGY FUND.
The General Assembly of North Carolina enacts:
Section 1.  G.S. 143-15.3 is amended by adding a new subsection to read:
"( c)	At the end of each fiscal quarter, the State Controller shall transfer the interest accumulated by the Savings Reserve Account to the School Technology Fund established by G.S. 115C-102.6D."
Section 2.  There is appropriated from the General Fund to the School Technology Fund established by G.S. 115C-102.6D the sum of two million dollars ($2,000,000) for the 1997-98 fiscal year.
Section 3.  This act becomes effective July 1, 1997.