North Carolina § 143B-437 - 61. Transfer to Industrial Development Fund Utility Account.

§ 143B-437. 61. Transfer to Industrial Development Fund Utility Account.

At the time the Department of Commerce remits a check to a business under G.S. 143B-437.60, the Department of Commerce shall transfer to the Utility Account an amount equal to the amount certified by the Committee as the difference between the amount of the grant and the amount of the grant for which the business would be eligible without regard to G.S. 143B-437.56(d). History (2002-172, s. 2.1(a); 2003-416, s. 2; 2006-168, s. 1.10; 2013-360, s. 15.18(g).) Editor's Note. - Session Laws 2008-147, s. 2, provides: "Notwithstanding G.S. 143B-437.52(c), the maximum amount of total annual liability for grants for agreements entered into in calendar year 2008 under the Job Development Investment Grant Program, including amounts transferred to the Utility Account pursuant to G.S. 143B-437.61, may not exceed twenty-five million dollars ($25,000,000)." For prior similar provisions, see Session Laws 2007-323, s. 13.1A. Session Laws 2013-360, s. 15.18(i), made the amendment to this section by Session Laws 2013-360, s. 15.18(g), applicable to projects for which funds are initially provided on or after July 1, 2013. Session Laws 2013-360, s. 15.18(h), provides: "The Department of Commerce, in conjunction with the Office of the State Controller, shall close the Industrial Development Fund and the Utility Account and shall transfer the remaining fund balances of each to the Industrial Development Fund Utility Account." Session Laws 2013-360, s. 1.1, provides: "This act shall be known as the 'Current Operations and Capital Improvements Appropriations Act of 2013.'" Session Laws 2013-360, s. 38.2, provides: "Except for statutory changes or other provisions that clearly indicate an intention to have effects beyond the 2013-2015 fiscal biennium, the textual provisions of this act apply only to funds appropriated for, and activities occurring during, the 2013-2015 fiscal biennium." Session Laws 2013-360, s. 38.5, is a severability clause. Effect of Amendments. - Session Laws 2006-168, s. 1.10, effective July 27, 2006, substituted "Department of Commerce" for "State Controller" twice near the beginning of this section. Session Laws 2013-360, s. 15.18(g), effective July 1, 2013, added "Utility Account" in the section heading; and deleted "of the Industrial Development Fund" following "Utility Account" in the section. For applicability, see Editor's note.