North Carolina § 143C-4-5 - Non-State match restrictions.

§ 143C-4-5. Non-State match restrictions.

Whenever money is required to match an appropriation made for a specific purpose by the State of North Carolina, the recipient of the appropriation shall actually receive as a gift, grant, earnings in actual money, or a pledge that can be used as collateral in any prudent loan transaction, the matching amount required. The recipient shall retain the matching amount received in its possession until spent for that purpose and shall spend an equal percentage of the appropriation and of the matching amount each time an expenditure is made, unless the individual appropriation requires otherwise. History (2006-203, s. 3.) Editor's Note. - Session Laws 2018-138, s. 1.3(8), as amended by Session Laws 2019-241, s. 9, provides: "Eighteen million five hundred thousand dollars ($18,500,000) to the Department of Environmental Quality for the Coastal Storm Damage Mitigation Fund. Notwithstanding G.S. 143-215.73 M(c), funds allocated by this subdivision may be used to provide no more than fifty percent (50%) of the total cost of an eligible project. Notwithstanding G.S. 143C-4-5 , the Department shall disburse the funds for any eligible project in a single payment upon the execution of a grant contract between the State and a unit of local government. If an eligible project receiving State funding under this section subsequently receives federal funding, the unit of local government designated as the grantee under the grant contract shall revert to the Office of State Budget and Management the portion of State funds that have been reimbursed by the federal funding. For purposes of this subdivision, an eligible 'project' is a project that mitigates or remediates coastal storm damage to the ocean beaches and dune systems of the State.”