A BILL TO BE ENTITLED
AN ACT to enact the balanced budget act of 2011.
The General Assembly of North Carolina enacts:

Title of Act
SECTION 1.  This act shall be known as the "Balanced Budget Act of 2011."

authority for the governor to reduce expenditures
SECTION 2.  Notwithstanding the State Budget Act or any other provision of law, the Director of the Budget is authorized to take all actions necessary to reduce General Fund expenditures for the remainder of fiscal year 2010‑2011. This grant of authority includes all powers to balance the budget granted the Governor under Article III, Section 5 of the Constitution. For the remainder of the 2010‑2011 fiscal year, the Director of the Budget shall exercise these powers with a goal of reducing expenditures by at least four hundred million dollars ($400,000,000).

EFFECTIVE DATE
SECTION 3.  This act is effective when it becomes law and applies to fiscal year 2010‑2011 only.