GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1999

S	4 

SENATE BILL 233
Transportation Committee Substitute Adopted 3/24/99
House Committee Substitute Favorable 5/13/99
House Committee Substitute #2 Favorable 7/8/99

Short Title:  TIP Funding Allocations.	(Public)

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Sponsors:

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Referred to:  

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March 4, 1999

A BILL TO BE ENTITLED
AN ACT TO PROVIDE THAT ANY FUNDS ALLOCATED IN A SPECIFIC YEAR TO A TRANSPORTATION DIVISION AND UNDER OR OVER OBLIGATED SHALL BE ADDED TO THE NEXT YEAR'S ALLOCATION TO THE TRANSPORTATION DIVISION.
The General Assembly of North Carolina enacts:
Section 1.  G.S. 136-17.2A is amended by adding a new subsection to read:
"( h)	Each year, the Secretary shall calculate the amount of funds allocated in that year to each division, the amount of funds obligated and the amount the obligations exceeded or were below the allocation. The target amounts obtained according to subsection (b) of this section shall be adjusted to account for any differences between allocations and obligations reported for the previous year.  The new target amounts shall be used to fulfill the requirements of subsection (d) of this section for the next update of the Transportation Improvement Program. The adjustment to the target amount shall be allocated by division."
Section 2.  This act becomes effective when it becomes law.