AN ACT providing that certain regional water and sewer funding shall not revert until june 30, 2025.

The General Assembly of North Carolina enacts:

SECTION 1.  Section 14.20A of S.L. 2016‑94, as amended by Section 1 of S.L. 2017‑17, Section 2 of S.L. 2019‑75, and Section 12.8 of S.L. 2021‑180, reads as rewritten:

ROCKINGHAM/GUILFORD COUNTY FUNDS EXTENSION

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SECTION 14.20A.(b)  Notwithstanding G.S. 143C‑6‑23(f1)(1) and G.S. 143C‑1‑2, funds allocated by this section shall be held in reserve by the Office of State Budget and Management and the allocations to each County shall be released when the County and one or more of the municipalities specified in subsection (a) of this section reach agreement on the funds allocated to that County by this section through interlocal agreements or the formation of regional water and sewer authorities or a combination of interlocal agreements and regional water and sewer authorities. Funds not spent or encumbered by June 30, 2023, shall be returned by the local governments or regional water and sewer authority to the Office of State Budget and Management and revert to the General Fund.These funds shall remain available until expended and shall not revert.

SECTION 2.  This act becomes effective June 30, 2023.