North Carolina § 115C-499 - 3. Scholarship amounts; amounts dependent on net income available.

§ 115C-499. 3. Scholarship amounts; amounts dependent on net income available.

Subject to the amount of net income available under G.S. 18C-164(b)(2), a scholarship awarded under this Article to a student at an eligible postsecondary institution shall be based upon the enrollment status and expected family contribution of the student and shall not exceed five thousand one hundred dollars ($5,100) per academic year, including any federal Pell Grant, to be used for the costs of attendance as defined for federal Title IV programs. Subject to the maximum amounts provided in this section, the Authority shall have the power to determine the actual scholarship amounts disbursed to students in any given year based on the amount of funds appropriated from the Education Lottery Fund. If the net income available is not sufficient to fully fund the scholarships to the maximum amount, all scholarships shall be reduced equally, to the extent practicable, so that every eligible applicant shall receive a proportionate scholarship amount. The minimum award of a scholarship under this Article shall be one hundred dollars ($100.00). History (2005-344, s. 2; 2005-276, s. 31.1(v); 2006-226, s. 22; 2013-360, s. 6.11(d); 2019-235, s. 4.1(b).) Editor's Note. - Session Laws 2005-276, s. 3.1(v), amended this section in the coded bill drafting format provided by G.S. 120-20.1 . The word "under" was inadvertently stricken from the first sentence of subsection (a). Session Laws 2006-226, s. 22 inserted "under." Session Laws 2019-235, s. 4.1(c), made the amendment of subsection (a) by Session Laws 2019-235, s. 4.1(b), applicable beginning with the award of scholarships for the 2020-2021 academic year. Session Laws 2019-235, s. 5.3, provides: "Except for statutory changes or other provisions that clearly indicate an intention to have effects beyond the 2019-2021 fiscal biennium, the textual provisions of this act apply only to funds appropriated for, and activities occurring during, the 2019-2021 fiscal biennium." Session Laws 2019-235, s. 5.5, is a severability clause. Effect of Amendments. - Session Laws 2005-276, s. 31.1(v), effective July 1, 2005, in subsection (a), substituted "Chapter 18C of the General Statutes" for "under G.S. 18C-164(b)(2) "; in subsection (b), substituted "Chapter 18C of the General Statutes" for "G.S. 18C-164(b)(2)" and "a proportionate" for "the same"; and added subsection (c). Session Laws 2006-226, s. 22, effective August 10, 2006, inserted "under" preceding "G.S. 18C-164(b)(2)" in subsection (a). Session Laws 2013-360, s. 6.11(d), effective July 1, 2013, substituted "funds appropriated from the Education Lottery Fund" for "net income available under Chapter 18C of the General Statutes" in the first sentence of subsection (b). Session Laws 2019-235, s. 4.1(b), effective July 1, 2019, substituted "five thousand one hundred dollars ($5,100)" for "four thousand dollars ($4,000)" in subsection (a). For applicability, see editor's note.