North Carolina § 143B-437 - 71. One North Carolina Fund established as a special revenue fund.

§ 143B-437. 71. One North Carolina Fund established as a special revenue fund.

Establishment. - The One North Carolina Fund is established as a special revenue fund in the Department of Commerce. Purposes. - Moneys in the One North Carolina Fund may only be allocated pursuant to this subsection. Moneys may be allocated to local governments for use in connection with securing commitments for the recruitment, expansion, or retention of new and existing businesses and to the One North Carolina Small Business Account created pursuant to subsection (c) of this section in an amount not to exceed three million dollars ($3,000,000). Moneys in the One North Carolina Fund allocated to local governments shall be used for the following purposes only: Installation or purchase of equipment. Structural repairs, improvements, or renovations to existing buildings to be used for expansion. Construction of or improvements to new or existing water, sewer, gas, or electric utility distribution lines or equipment for existing buildings. Construction of or improvements to new or existing water, sewer, gas, or electric utility distribution lines or equipment for new or proposed buildings to be used for manufacturing and industrial operations. Any other purposes specifically provided by an act of the General Assembly. Awards. - The amounts committed in Governor's Letters issued in a single fiscal biennium may not exceed twenty-eight million dollars ($28,000,000). There is created in the One North Carolina Fund a special account, the One North Carolina Small Business Account, to be used for the North Carolina SBIR/STTR Incentive Program and the North Carolina SBIR/STTR Matching Funds Program, as specified in Part 2I of Article 10 of Chapter 143B of the General Statutes. History (2004-88, s. 1(d); 2005-276, s. 13.14(a); 2006-162, s. 19; 2012-142, s. 13.6(b); 2013-360, s. 15.16A.) Editor's Note. - Session Laws 2012-142, s. 13.6(h), provides: "The Department of Commerce shall report to the Joint Legislative Economic Development and Global Engagement Oversight Committee no later than October 1, 2012, the following information for each One North Carolina Fund allocation, itemized by recipient: (i) the date of the award, (ii) the date of each disbursement, (iii) the amount of the funds allocated, (iv) the amount and form of the local match requirement, and (v) the date the local match requirement was fulfilled. The Joint Legislative Economic Development and Global Engagement Oversight Committee shall review the report and shall make any recommendations to the General Assembly upon the convening of the 2013 Regular Session." Session Laws 2012-142, s. 1.2, provides: "This act shall be known as 'The Current Operations and Capital Improvements Appropriations Act of 2012.'" Session Laws 2012-142, s. 27.4, provides: "Except for statutory changes or other provisions that clearly indicate an intention to have effects beyond the 2012-2013 fiscal year, the textual provisions of this act apply only to funds appropriated for, and activities occurring during, the 2012-2013 fiscal year." Session Laws 2012-142, s. 27.7, is a severability clause. Session Laws 2017-57, s. 15.15A(d), provides: "(d) If the Office of Budget and Management and the Department of Commerce certify in writing to the Director of the Budget that the conditions set forth for infrastructure development of a site for the purpose of securing a community economic development agreement under G.S. 143B-437.57 for a transformative project, as defined in G.S. 143B-437.51, have been met, then the Director of the Budget may use the Savings Reserve Account in the General Fund to implement this section. To implement this section, the State Controller may transfer up to fifty million dollars ($50,000,000) to a reserve in the Office of State Budget and Management for each transformative project for uses consistent with the Site Infrastructure Development Fund established pursuant to G.S. 143B-437.02, and such funds are hereby appropriated for this purpose. Under no circumstances shall the total amount that may be transferred pursuant to this section exceed eighty million dollars ($80,000,000). If it is not necessary to expend all of these funds in accordance with this section, the State Controller shall transfer the remaining funds to the Savings Reserve Account. The authority to transfer amounts pursuant to this subsection expires June 30, 2019." Session Laws 2018-5, s. 15.3(a), effective June 12, 2018, repealed Session Laws 2017-57, s. 15.15A(d) and (e). Session Laws 2017-57, s. 15.15A(e), provides: "(e) Amounts committed in Governor's Letters issued pursuant to Part 2H of Article 10 of Chapter 143B of the General Statutes for transformative projects, as defined in G.S. 143B-437.51, do not count towards the limitation provided in G.S. 143B-437.71(b1). Amounts committed pursuant to this subsection may be up to five thousand dollars ($5,000) per job covered by a company performance agreement per year for each job created within a five-year period from the time the first job was created. Amounts paid for a single job may not exceed a term of five years. The authority to commit amounts pursuant to this subsection expires June 30, 2019." Session Laws 2018-5, s. 15.3(a), effective June 12, 2018, repealed Session Laws 2017-57, s. 15.15A(d) and (e). Session Laws 2017-57, s. 1.1, provides: "This act shall be known as the 'Current Operations Appropriations Act of 2017.'" Session Laws 2017-57, s. 39.4, provides: "Except for statutory changes or other provisions that clearly indicate an intention to have effects beyond the 2017-2019 fiscal biennium, the textual provisions of this act apply only to funds appropriated for, and activities occurring during, the 2017-2019 fiscal biennium." Session Laws 2017-57, s. 39.6, is a severability clause. Session Laws 2018-5, s. 1.1, provides: "This act shall be known as the 'Current Operations Appropriations Act of 2018.'" Session Laws 2018-5, s. 39.4, provides: "Except for statutory changes or other provisions that clearly indicate an intention to have effects beyond the 2018-2019 fiscal year, the textual provisions of this act apply only to funds appropriated for, and activities occurring during, the 2018-2019 fiscal year." Session Laws 2018-5, s. 39.7, is a severability clause. Effect of Amendments. - Session Laws 2005-276, s. 13.14(a), effective July 1, 2005, rewrote the introductory paragraph of subsection (b); and added subsection (c). Session Laws 2006-162, s. 19, effective July 24, 2006, substituted "special revenue fund" for "nonreverting account" at the end of the section catchline. Session Laws 2012-142, s. 13.6(b), effective July 1, 2012, added subsection (b1). Session Laws 2013-360, s. 15.16A, effective July 1, 2013, in subsection (b1), substituted "biennium" for "year" and "twenty-eight million dollars ($28,000,000)" for "fourteen million dollars ($14,000,000)."