GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1995

H	1 

HOUSE BILL 803*

Short Title:  ECU Medical School Receipts.	(Public)

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Sponsors: Representatives Rogers, Aldridge, Edwards, Mercer, and Tolson.

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Referred to:  Appropriations Subcommittee on Education.

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April 11, 1995

A BILL TO BE ENTITLED
AN ACT TO CLARIFY THE LAW REGARDING THE EAST CAROLINA UNIVERSITY SCHOOL OF MEDICINE'S USE OF CERTAIN RECEIPTS.
The General Assembly of North Carolina enacts:
Section 1.  Chapter 116 of the General Statutes is amended by adding a new section to read:
"§ 116-36.6.  East Carolina University School of Medicine; Medicare receipts.
The East Carolina University School of Medicine shall request, on a regular basis consistent with the State's cash management plan, funds earned by the School from Medicare reimbursements for education costs.  Upon receipt, these funds shall be allocated as follows:
(1)	The portion of the Medicare reimbursement generated through the effort and expense of the School of Medicine's Medical Faculty Practice Plan shall be transferred to the appropriate Medical Faculty Practice Plan account within the School of Medicine.  The Medical Faculty Practice Plan shall assume responsibility for any of these funds that subsequently must be refunded due to final audit settlements.
(2)	The funds from this source budgeted by the General Assembly as part of the School of Medicine's General Fund budget code shall be credited to that code as a receipt.
(3)	The remainder of the funds shall be transferred to a special fund account on deposit with the State Treasurer.  This special fund account shall be used for any necessary repayment of Medicare funds due to final audit settlements for funds allocated under subdivision (2) of this subsection.  When the amount of these reimbursement funds has been finalized by audit for each year, those funds remaining in the special fund shall be available for specific capital improvement projects for the East Carolina University School of Medicine.  Requests by East Carolina University for use of these funds shall be made to the Board of Governors of The University of North Carolina."
Sec. 2.  This act is effective upon ratification.