A BILL TO BE ENTITLED
AN ACT to establish the floodplain mapping trust fund.
The General Assembly of North Carolina enacts:
SECTION 1.  Chapter 166A of the General Statutes is amended by adding a new Article to read:
"Article 5.
"Floodplain Mapping Trust Fund.
"§ 166A‑60. Floodplain Mapping Trust Fund.
(a)	There is established the Floodplain Mapping Trust Fund in the Office of State Treasurer to provide a source of recurring funds for floodplain mapping and the updating of floodplain maps.
(b)	The State Treasurer shall hold the Fund separate and apart from all other moneys, funds, and accounts. Investment earnings credited to the assets of the Fund shall become part of the Fund. Any balance remaining in the Fund at the end of any fiscal year shall be carried forward in the Fund for the next succeeding fiscal year.
(c)	Moneys from the fund shall be appropriated annually to fund the activities of the Emergency Management Division of the Department of Crime Control and Public Safety in developing and maintaining floodplain maps for this State."
SECTION 2.  This act becomes effective July 1, 2008.