GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1993

S	2 

SENATE BILL 1057
House Committee Substitute Favorable 6/14/93

Short Title:  Guilford School Funding.	(Local)
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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, for the 1993-94 school year only, the funding obligation of the Guilford County Board of Commissioners under this section shall be reduced by undesignated and unrestricted fund balances in the local current expense funds from the three existing school systems in the total amount of eight million dollars ($8,000,000), which fund balances vest in the new Guilford County Board of Education as of July 1, 1993."
Sec. 2.  This act is effective upon ratification.