A BILL TO BE ENTITLED
AN ACT AUTHORIZING community colleges SERVING low‑wealth counties to retain their reversions.
The General Assembly of North Carolina enacts:
SECTION 1.  Chapter 115D of the General Statutes is amended by adding a new section to read:
"§ 115D‑31.4. Reversions.
(a)	Notwithstanding G.S. 143‑18 or any other provision of law:
(1)	If all of the counties in the service area of a community college are low‑wealth counties, the community college may retain and carry forward its General Fund current operations credit balance remaining at the end of the fiscal year.
(2)	If one or more of the counties in the service area of a community college are low‑wealth counties, the community college may retain and carry forward the percentage of its General Fund current operations credit balance authorized by G.S. 115D‑31.3(g). Of the remainder of the General Fund current operations credit balance remaining at the end of the fiscal year, the college may carry forward a percentage of that amount equal to the percentage of the college's maintenance of plant funds that are provided by the low‑wealth counties in its service area.
(b)	As used in this section, a low‑wealth community county is a county in which the schools are eligible to receive low‑wealth school supplemental funding for the fiscal year."
SECTION 2.  This act becomes effective June 30, 2005.