A BILL TO BE ENTITLED
AN ACT to appropriate funds to the mid‑eastern athletic conference (meac) for scholarships.
Whereas, the 2006 Mid‑Eastern Athletic Conference (MEAC) Basketball Tournament is projected to generate $1,000,000 in tax revenues; and
Whereas, projected State and local sales tax will total $800,000; and
Whereas, projected hotel occupancy tax will total $135,000; and
Whereas, projected prepared food and beverage taxes will total $27,000 for people in hotels and $15,000 for people not in hotels; and
Whereas, the MEAC Basketball Tournament is expected to attract graduates of the following institutions: Howard University, Washington, DC; Morgan State University, Baltimore, MD; Hampton University, Hampton, VA; North Carolina A & T State University, Greensboro, NC; Florida A & M University, Tallahassee, FL; Bethune‑Cookman College, Daytona Beach, FL; South Carolina State University, Orangeburg, SC; Coppin State University, Baltimore, MD; Delaware State University, Dover, DE; and the University of Maryland Eastern Shore, Princess Anne, MD; and
Whereas, the number of persons projected to attend the tournament is 100,000; and
Whereas, the projected total number of room nights that will sell is 26,000 in Wake and Durham counties; and
Whereas, the projected number of total visitor spending is $12,000,000; Now, therefore,
The General Assembly of North Carolina enacts:
SECTION 1.  There is appropriated from the General Fund to the Department of Commerce the sum of one million dollars ($1,000,000) for the 2005‑2006 fiscal year to be allocated to the Mid‑Eastern Athletic Conference (MEAC) for student scholarships.
SECTION 2.  This act becomes effective July 1, 2005.