Georgia § 20-3-133 - Payments from regents to local operating authorities; local support from fees and taxes; audits.

§ 20-3-133. Payments from regents to local operating authorities; local support from fees and taxes; audits.

There shall be paid to every local operating authority which shall have established a junior college under this article, upon which construction had commenced prior to January 1, 1964, and which is not operated as a unit of the university system under the board of regents an amount which shall be determined on the basis of a budget for each fiscal year, developed pursuant to a formula agreed upon by the local operating authority, the director of the Senate Budget and Evaluation Office, the director of the House Budget and Research Office, and the director of the Office of Planning and Budget. Budgets prepared pursuant to this authority shall be for expenses incurred by a junior college for educational and general expenditures as set forth in the latest edition of the publication entitled "College and University Business Administration." Such formula shall include financial participation from the local operating authority to include student matriculation fees and funds derived from not less than a one-half nor more than a three-fourths mill tax established by the local operating authority on the ad valorem tax digest of its political subdivision. No state funds shall be appropriated for capital construction. Expenditure under this article shall be audited annually by the Department of Audits and Accounts. (Ga. L. 1958, p. 47, § 5; Ga. L. 1964, p. 686, §§ 2, 6; Ga. L. 1970, p. 645, § 1; Ga. L. 1972, p. 538, § 1; Ga. L. 1975, p. 522, § 1; Ga. L. 2008, p. VO1, § 1-11/HB 529; Ga. L. 2014, p. 866, § 20/SB 340.) The 2014 amendment, effective April 29, 2014, part of an Act to revise, modernize, and correct the Code, substituted "Senate Budget and Evaluation Office" for "Senate Budget Office" and substituted "House Budget and Research Office" for "House Budget Office" in the first sentence of this Code section. Editor's notes. - Ga. L. 2008, p. VO1, which amended this Code section, was passed by the General Assembly as HB 529 at the 2007 regular session but vetoed by the Governor on May 30, 2007. The General Assembly overrode that veto on January 28, 2008, and the Act became effective on that date.