S814: NC Promise Tuition Plan Funds. Latest Version

GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2019

SESSION LAW 2020-43
SENATE BILL 814

AN ACT TO APPROPRIATE FUNDS FOR THE NC PROMISE TUITION PLAN.

The General Assembly of North Carolina enacts:

SECTION 1.(a) Notwithstanding G.S. 18C-164, by August 15, 2020, the Office of
State Budget and Management shall transfer the sum of ten million dollars ($10,000,000) in
nonrecurring funds from the cash balance in the Education Lottery Reserve Fund (Budget Code:
23004; Fund Code: 2C01) to UNC Board of Governors – Institutional Programs (Budget Code:
16011).

SECTION 1.(b) By August 15, 2020, the Department of Public Instruction shall
transfer the sum of five million dollars ($5,000,000) in nonrecurring funds from the cash balance
in the School Bus Replacement Fund (Budget Code: 73510; Fund Code: 7200) to UNC Board of
Governors – Institutional Programs (Budget Code: 16011).
SECTION 2.(a) The funds transferred in this act are appropriated to the Board of
Governors of The University of North Carolina for the 2020-2021 fiscal year to be used for the
NC Promise Tuition Plan established under G.S. 116-143.11, which sets tuition at five hundred

dollars ($500.00) per semester for North Carolina residents and two thousand five hundred
dollars ($2,500) per semester for nonresidents at Elizabeth City State University, the University
of North Carolina at Pembroke, and Western Carolina University.
SECTION 2.(b) Departmental receipts, as defined in G.S. 143C-1-1, are
appropriated for the 2020-2021 fiscal year up to the amounts needed to implement the provisions
in this act for the 2020-2021 fiscal year.

SECTION3. It is theintent oftheGeneral Assemblyto appropriatefrom theGeneral
Fund to the Board of Governors of The University of North Carolina the following additional
funds for the purpose of the "buy down" of any financial obligations incurred by Elizabeth City
StateUniversity, theUniversityofNorth Carolina at Pembroke, and Western CarolinaUniversity
for the NC Promise Tuition Plan:
(1) Forthe2021-2022fiscal year,thesumoftwentymilliondollars($20,000,000)
in recurring funds.

(2) For the 2022-2023 fiscal year, the sum of four million dollars ($4,000,000) in
recurring funds.
(3) For the 2023-2024 fiscal year, the sum of three million four hundred thousand
dollars ($3,400,000) in recurring funds.
(4) For the 2024-2025 fiscal year, the sum of three million dollars ($3,000,000)
in recurring funds.
For the 2024-2025 fiscal year and subsequent fiscal years, it is the intent of the

General Assembly that the net appropriation for the "buy down" of any financial obligations
incurred by Elizabeth City State University, the University of North Carolina at Pembroke, and
Western Carolina University for the NC Promise Tuition Plan shall not exceed the sum of
eighty-one million four hundred thousand dollars ($81,400,000) in recurring funds.

*S814-v-4* SECTION 4. The provisions of the State Budget Act, Chapter 143C of the General
Statutes, are reenacted and shall remain in full force and effect and are incorporated in this act
by reference.
SECTION5. Except whereexpresslyrepealedor amended bythis act, theprovisions
of any other legislation enacted during the 2019 Regular Session of the General Assembly

expresslyappropriating funds to an agency, a department, or an institution covered under this act
shall remain in effect.
SECTION 6. This act becomes effective July 1, 2020.
In the General Assembly read three times and ratified this the 15 day of June, 2020.

s/ Ralph E. Hise, Jr.
Presiding Officer of the Senate

s/ Tim Moore

Speaker of the House of Representatives

s/ Roy Cooper
Governor

Approved 9:54 a.m. this 26 day of June, 2020

Page 2 Session Law 2020-43 Senate Bill 814