A BILL TO BE ENTITLED
AN ACT authorizing the town of tabor city to participate in railroad revitalization programs to ensure continued or improved rail service to the town.
The General Assembly of North Carolina enacts:
SECTION 1.  The Town of Tabor City is authorized to participate in State and federal railroad revitalization programs necessary to ensure continued or improved rail service to the Town as authorized in Article 2D of Chapter 136 of the General Statutes. The Town is authorized to enter into contracts with the North Carolina Department of Transportation to provide for the nonfederal matching funds for railroad revitalization programs. Such funds may be comprised of State funds distributed under the provisions of G.S. 136‑44.38 and of Town funds. Subject to the provisions of G.S. 160A‑209(d), the Town is authorized to levy local property taxes for railroad revitalization programs. Town funds for any project authorized by this act may not exceed ten percent (10%) of total project costs.
SECTION 2.  This act applies only to the Town of Tabor City.
SECTION 3.  This act is effective when it becomes law.