AN ACT to authorize the department of transportation to receive funds from local governments to advance the construction schedule of tip projects.

The General Assembly of North Carolina enacts:

SECTION 1.  G.S. 136‑18 is amended by adding a new subdivision to read:
"(38)	To enter into agreements with municipalities, counties, governmental entities, or nonprofit corporations to receive funds for the purpose of advancing the construction schedule of a project identified in the Transportation Improvement Program. If these funds are subject to repayment by the Department, prior to receipt of funds, reimbursement of all funds received by the Department shall be shown in the existing Transportation Improvement Program and shall be reimbursed within seven years of receipt."
SECTION 2.  This act is effective when it becomes law.
In the General Assembly read three times and ratified this the 16th day of July, 2004.

	s/	 Beverly E. Perdue
	 President of the Senate

	s/	 Richard T. Morgan
	 Speaker of the House of Representatives

	s/	 Michael F. Easley
	 Governor

Approved 4:55 p.m. this 2nd day of August, 2004