A BILL TO BE ENTITLED
AN ACT TO ESTABLISH A NORTH CAROLINA COMMUNITY COLLEGEs INSTRUCTIONAL TRUST FUND. 
The General Assembly of North Carolina enacts:
SECTION 1.  Article 3 of Chapter 115D of the General Statutes is amended by adding a new section to read:
"§ 115D-42.  North Carolina Community Colleges Instructional Trust Fund.
(a)	There is established the North Carolina Community Colleges Instructional Trust Fund. The purpose of this Trust Fund is to supplement the funds raised by community college foundations to enhance the academic missions of community colleges.(b)	State funds from the Trust Fund and matching funds raised by foundations shall be used by the board of trustees of a community college only to enhance the academic mission of the college. Expenditures of these funds shall directly relate to education and shall be only for:
(1)	Resource center materials;
(2)	Professional development of instructional faculty and staff in cases in which (i) professional development will improve the quality of performance provided by the employee and (ii) the employee makes a commitment to remain at the college for a proscribed period of time;
(3)	Professional development of instructional faculty and staff in cases in which professional development is necessary to enhance the employee's ability to meet newly mandated instructional or performance requirements;
(4)	Endowed scholarships and endowed professorships; and
(5)	Other purposes authorized by the State Board of Community Colleges that are consistent with the college's mission."
SECTION 2.  This act is effective when it becomes law.