GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1993

S	1 

SENATE BILL 1057

Short Title:  Guilford School Funding.	(Local)
─────────────────────────────────────── 
Sponsors: Senators Martin of Guilford; and Seymour.
─────────────────────────────────────── 
Referred to:  Appropriations.
─────────────────────────────────────── 

May 6, 1993

A BILL TO BE ENTITLED
AN ACT CONCERNING FUNDING OF PUBLIC SCHOOLS IN GUILFORD COUNTY.
The General Assembly of North Carolina enacts:
Section 1.  Section 15 of Chapter 78 of the 1991 Session Laws is amended to add a new subsection to read:
"( c)	Notwithstanding subsections (a) and (b) of this section, in the event that undesignated fund balances from the three existing school systems in the total amount of at least eight million dollars ($8,000,000) vest in the new Guilford County Board of Education as of July 1, 1993, then the Guilford County Board of Commissioners shall receive a credit against its funding obligation under this section for the 1993-94 school year in an amount not to exceed eight million dollars ($8,000,000) of such undesignated funds."
Sec. 2.  This act is effective upon ratification.