AN ACT TO APPROPRIATE FUNDS FOR cape fear regional theatre IN CUMBERLAND COUNTY.

The General Assembly of North Carolina enacts:

SECTION 1.(a)  There is appropriated from the General Fund to the Office of State Budget and Management the sum of three million dollars ($3,000,000) in nonrecurring funds for the 2021‑2022 fiscal year and the sum of two million dollars ($2,000,000) in nonrecurring funds for the 2022‑2023 fiscal year to be allocated to the Cape Fear Regional Theatre at Fayetteville, Inc., (CFRT) a nonprofit organization, to renovate and transform the regional theatre in accordance with this section. It is the intent of the General Assembly that CFRT raises one million dollars ($1,000,000) in non‑State funds in the 2021‑2022 fiscal year and one million dollars ($1,000,000) in non‑State funds in the 2022‑2023 fiscal year to match this appropriation.

SECTION 1.(b)  For the 2021‑2022 fiscal year, CFRT shall receive allocations from the Office of State Budget and Management as follows:

(1)        Upon raising the initial sum of five hundred thousand dollars ($500,000) in non‑State funds, CFRT shall receive the sum of one million dollars ($1,000,000).

(2)        Upon raising an additional sum of five hundred thousand dollars ($500,000) in non‑State funds for a total amount of one million dollars ($1,000,000) in non‑State funds, CFRT shall receive the final sum of two million dollars ($2,000,000) in the 2021‑2022 fiscal year.

SECTION 1.(c)  For the 2022‑2023 fiscal year, upon raising one million dollars ($1,000,000) in non‑State funds, CFRT shall receive the final allocation from the Office of State Budget and Management in the sum of two million dollars ($2,000,000).

SECTION 2.  This act becomes effective July 1, 2021.