-
-
No events on calendar for this bill.
-
Ch. SL 2021-103House | 2021-08-12RatifiedHouse | 2021-08-12Ordered EnrolledHouse | 2021-08-11Concurred In S Com SubHouse | 2021-08-11Added to CalendarHouse | 2021-08-11Cal Pursuant 36(b)House | 2021-08-11Regular Message Received For Concurrence in S Com SubHouse | 2021-08-10Regular Message Sent To HouseSenate | 2021-08-10Passed 3rd ReadingSenate | 2021-08-09Placed On Cal For 08/09/2021Senate | 2021-08-04Passed 2nd ReadingSenate | 2021-08-04Reptd FavSenate | 2021-08-03Re-ref Com On Rules and Operations of the SenateSenate | 2021-06-30Reptd FavSenate | 2021-06-30Re-ref to Finance. If fav, re-ref to Rules and Operations of the SenateSenate | 2021-06-15Withdrawn From ComSenate | 2021-06-15Re-ref Com On State and Local GovernmentSenate | 2021-06-15Com Substitute AdoptedSenate | 2021-06-15Reptd Fav Com SubstituteSenate | 2021-06-15Re-ref to Agriculture, Energy, and Environment. If fav, re-ref to State and Local Government. If fav, re-ref to Rules and Operations of the SenateSenate | 2021-06-07Withdrawn From ComSenate | 2021-06-07Ref To Com On Rules and Operations of the SenateSenate | 2021-05-12Passed 1st ReadingSenate | 2021-05-12Special Message Received From HouseSenate | 2021-05-12Special Message Sent To SenateHouse | 2021-05-12Passed 3rd ReadingHouse | 2021-05-12Passed 2nd ReadingHouse | 2021-05-11Added to CalendarHouse | 2021-05-11Cal Pursuant Rule 36(b)House | 2021-05-11Reptd FavHouse | 2021-05-11Re-ref Com On Rules, Calendar, and Operations of the HouseHouse | 2021-05-11Reptd Fav Com SubstituteHouse | 2021-05-11Serial Referral To Local Government StrickenHouse | 2021-05-06Ref to the Com on Energy and Public Utilities, if favorable, Local Government, if favorable, Rules, Calendar, and Operations of the HouseHouse | 2021-03-04Passed 1st ReadingHouse | 2021-03-04FiledHouse | 2021-03-02
-
BUDGETING
COUNTIES
ECONOMIC DEVELOPMENT
FUNDING
INFRASTRUCTURE
LOCAL
LOCAL GOVERNMENT
MUNICIPALITIES
RATIFIED
URBAN DEVELOPMENT
UTILITIES
FRANKLIN COUNTY
LOUISBURG
CHAPTERED
-
159B-39 (Sections)
-
Franklin
-
-
-
H206: Louisburg Economic Development Initiative. Latest Version
Session: 2021 - 2022
GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2021
SESSION LAW 2021-103
HOUSE BILL 206
AN ACT authorizing the Town of louisburg to use revenue derived from rates for electric service for economic development projects that will increase the town's number of electric customers or electric load.
The General Assembly of North Carolina enacts:
SECTION 1. G.S. 159B‑39 reads as rewritten:
§ 159B‑39. Permitted uses of revenue from electric power rates.
…
(b) The direct and indirect costs of operating the electric system include all of the following:
…
(9) The development or redevelopment of properties, or activities related thereto, likely to increase the municipality's number of electric customers or electric load thereby leading to reduced electric service rates, improved economic development, job growth, or community improvement. Provided, however, a municipality may only use revenue derived from rates for electric service to pay costs identified under this subdivision if all of the following criteria apply: (i) the municipality's electric rates are within ten percent (10%) of the customer rates charged by any provider of electric service in a service area adjacent to the municipality during the fiscal year in which the cost is incurred; (ii) the municipality maintains in its electric enterprise fund moneys available to pay all costs necessary for operation of its electric system for a three‑month period, which funds were not appropriated by the annual budget; and (iii) the municipality has a fully developed capital improvement plan that includes a funding source to replace assets depreciated by seventy‑five percent (75%) or more.
….
SECTION 2. This act applies to the Town of Louisburg only.
SECTION 3. This act is effective when it becomes law and (i) applies to the use of revenue derived from rates for electric service to pay costs identified in G.S. 159B‑39(b)(9), as enacted by Section 1 of this act, on or after that date and (ii) expires July 1, 2031.
In the General Assembly read three times and ratified this the 12th day of August, 2021.
s/ Bill Rabon
Presiding Officer of the Senate
s/ Tim Moore
Speaker of the House of Representatives