GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1995

S	1 

SENATE BILL 1439

Short Title:  Community College Challenge Grants.	(Public)

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Sponsors: Senators Conder; and Warren.

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Referred to:  Appropriations.

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June 3, 1996

A BILL TO BE ENTITLED
AN ACT TO APPROPRIATE FUNDS FOR A COMMUNITY COLLEGE CHALLENGE GRANTS FUND.
The General Assembly of North Carolina enacts:
Section 1.  There is appropriated from the General Fund to the Department of Community Colleges the sum of one million dollars ($1,000,000) for the 1996-97 fiscal year for the Community College Challenge Grants Fund created in Section 2 of this act.
Sec. 2.  Chapter 115D of the General Statutes is amended by adding a new section to read:
"§ 115D-42.  Community College Challenge Grants Fund.
(a)	A nonreverting Community College Challenge Grants Fund is created in the Department of Community Colleges.  The purpose of the Fund is to encourage private support in enhancing community colleges by providing community colleges with the opportunity to receive and match challenge grants with private funds.  Challenge grants shall be matched on the basis of two dollars ($2.00) of private funds for each dollar of funds from the Community College Challenge Grants Fund.  Challenge grants may be used for equipment, learning resource center materials, audiovisual materials, professional development for faculty, endowed chairs for faculty, endowed scholarships, and other purposes.
(b)	The State Board of Community Colleges shall adopt rules regarding administration of the Fund and eligibility for challenge grants from it. The Department of Community Colleges shall administer the Fund.
(c)	Moneys in the Fund shall be deposited with the State Treasurer and administered under the provisions of G.S. 147-69.3. Interest earned by the Fund shall be credited to the Fund."
Sec. 3.  This act becomes effective July 1, 1996.