Bill Text: NC H1975 | 2010 | Regular Session | Amended


Bill Title: Exempt DOT Equity Funds/GARVEE Bonds

Spectrum: Slight Partisan Bill (Democrat 3-1)

Status: (Introduced - Dead) 2010-06-09 - Re-ref Com On Appropriations [H1975 Detail]

Download: North_Carolina-2010-H1975-Amended.html

GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2009

H                                                                                                                                                   2

HOUSE BILL 1975

Committee Substitute Favorable 6/9/10

 

Short Title:        Exempt DOT Equity Funds/GARVEE Bonds.

(Public)

Sponsors:

 

Referred to:

 

May 26, 2010

A BILL TO BE ENTITLED

AN ACT to exempt funds used to secure and repay GARVEE bonds from the equity formula.

The General Assembly of North Carolina enacts:

SECTION 1.  G.S. 136‑17.2A is amended by adding a new subsection to read:

"(j)       Notwithstanding the provisions of subsection (i) of this section, all funds used in repayment of "GARVEE" bonds issued pursuant to G.S. 136‑18(12b) for Phase 1 of the Yadkin River Bridge Project shall not be subject to the provisions of this section."

SECTION 2.  This act becomes effective July 1, 2010.

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