AN ACT to amend the supplemental retirement fund for volunteer firemen in the town of elkin and to repeal the provisions providing supplemental retirement funds for firemen in the City of Burlington.

The General Assembly of North Carolina enacts:

SECTION 1.  Subsection (a) of Section 3 of Chapter 391 of the 1971 Session Laws reads as rewritten:
"(a)	Each active volunteer fireman of the Town who has retired subsequent to January 1, 1969, and who has attained the age of 55 with thirty (30) years' service or more as a town volunteer fireman, shall be entitled to and shall receive in each calendar month following the calendar month in which he or she retires a monthly supplemental retirement benefit equal to two dollars ($2.00) for each full year of service as a volunteer fireman of the Town; provided, in the event, in any calendar month, funds in the Supplemental Retirement Fund are not available to pay a benefit equal to two dollars ($2.00) for each full year of service as a volunteer fireman of the Town, the Board of Trustees shall specify a lesser amount to be paid."
SECTION 2.  Chapter 321 of the 1969 Session Laws, as amended by Chapter 1144 of the 1979 Session Laws and Chapter 612 of the 1987 Session Laws, is repealed.
SECTION 3.  All funds remaining in the Burlington Firemen's Supplemental Retirement Fund and the Burlington Volunteer Firemen's Retirement Fund are transferred to the Board of Trustees of the Local Firemen's Relief Fund of the City of Burlington, to be held and administered as provided in Article 84 of Chapter 58 of the General Statutes.
SECTION 4.  Section 1 of this act becomes effective July 1, 2008, and applies to the payment of benefits on or after that date. The remainder of this act is effective when it becomes law.
In the General Assembly read three times and ratified this the 3rd day of July, 2008.

	s/	 Beverly E. Perdue
	 President of the Senate

	s/	 Joe Hackney
	 Speaker of the House of Representatives