A BILL TO BE ENTITLED
AN ACT to amend the law regarding the use of medicare receipts by Brody School of Medicine at east carolina university.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 116‑36.6 reads as rewritten:
"§ 116‑36.6.  Brody School of Medicine at East Carolina University; Medicare receipts.
The Brody School of Medicine at East Carolina University 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 Brody 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.
		
(2a)	Funds that were received pursuant to this section prior to July 1, 2005, and that were transferred to a special fund account on deposit with the State Treasurer are appropriated to the Brody School of Medicine at East Carolina University and may be expended by the Brody School of Medicine for the Family Medicine Center for purposes consistent with its stated mission."
SECTION 2.  Subsections (b) and (c) of Section 87 of Chapter 321 of the 1993 Session Laws are repealed.
SECTION 3.  This act becomes effective July 1, 2005.