GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1993

H	1 

HOUSE BILL 864

Short Title:  Stanly ABC Stores.	(Local)
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Sponsors: Representatives Hightower; and Barbee.
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Referred to:  Judiciary I.
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April 12, 1993

A BILL TO BE ENTITLED
AN ACT TO PROVIDE FOR THE DISTRIBUTION OF PROFITS OF ABC STORES IN STANLY COUNTY.
The General Assembly of North Carolina enacts:
Section 1.  Section 5 of Chapter 722 of the Session Laws of 1965, as amended by Chapter 120 of the Session Laws of 1975, reads as rewritten:
"Sec. 5.  The Board of Alcoholic Control shall pay, quarterly, to the Town of Norwood not less than five per cent (5%) and not more than fifteen percent (15%) of the gross profits from the sale of alcoholic beverages, and the Town of Norwood shall expend such funds for law enforcement purposes.  Out of net revenue, up to five percent (5%) may be expended for Alcoholic Education as to the effects of the use of Alcoholic Beverages.  Out of the net revenue remaining after the payment of all costs and operating expenses and after retaining a sufficient working capital, the Town of Norwood Board of Alcohol Control shall on a quarterly basis pay fifty percent (50%) of said revenue to the general fund of the Town of Norwood, and fifty percent (50%) of the net revenue to the general fund of Stanly County."
Sec. 2.  If any town or city in Stanly County other than Norwood shall operate an ABC store, the board of alcoholic control of the town or city shall distribute its net revenue between the town or city and Stanly County in the same proportion that the Town of Norwood Board of Alcohol Control distributes its net revenue between the Town of Norwood and Stanly County.
Sec. 3.  This act is effective upon ratification.