147-69.6A. Lumbee Tribe of North Carolina Trust Fund.

(a) The Lumbee Tribe of North Carolina Trust Fund is established as a special fund in the Office of the State Treasurer under the management of the Treasurer. The Fund shall consist of all funds received by the Lumbee Tribe of North Carolina for the sale or lease of natural resources from the property described as Parcel 1 in S.L. 2013-186 and the interest and other investment income earned by the Fund. Contributions to the Fund are irrevocable. Assets in the Fund may be disbursed only to the Lumbee Tribal Administration for the purposes provided in this section.

(b) The State Treasurer shall disburse to the Lumbee Tribal Administration amounts requested by the Lumbee Tribal Administration for one of the following purposes if the stated conditions are met:

(1) For the payment of property taxes on the described property, upon receipt of a property tax bill issued by the taxing unit.

(2) For the reforestation of the described property under the supervision of a consulting forester registered pursuant to Chapter 89B of the General Statutes, upon receipt of an invoice for (i) the services of the consulting forester or (ii) the purchase and installation of seedlings or saplings.

(c) The Lumbee Tribe of North Carolina Trust Fund is subject to the oversight of the State Auditor pursuant to Article 5A of Chapter 147 of the General Statutes.

(d) The Lumbee Tribe of North Carolina Trust Fund and the income therefrom shall not take the place of or be counted against any other State appropriations or program providing funds or disbursements to the Lumbee Tribe of North Carolina. (2019-162, s. 6.)