GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2005

S                                                                                                                                                     1

SENATE BILL 1514*

Short Title:     Advanced Vehicle Research Funds.		(Public)
Sponsors:	Senator Holloman.
Referred to:	Appropriations/Base Budget.

May 18, 2006

A BILL TO BE ENTITLED

AN ACT to appropriate funds to the department of commerce for the advanced vehicle research center.

The General Assembly of North Carolina enacts:

SECTION 1.(a)  There is appropriated from the General Fund to the Department of Commerce the sum of seven million five hundred thousand dollars ($7,500,000) for the 2006-2007 fiscal year to be allocated to the Advanced Vehicle Research Center of North Carolina, Inc., for the development and construction of an automotive research, testing, and development complex in Northampton County.

SECTION 1.(b)  By January 15, 2007, and April 20, 2007, the Advanced Vehicle Research Center shall report to the Joint Legislative Commission on Governmental Operations and the Fiscal Research Division the following: (i) fiscal year 2006-2007 projects, objectives, and accomplishments; and (ii) fiscal year 2006-2007 itemized expenditures and fund sources. The April 30, 2007, report shall also contain the following: (i) fiscal year 2007-2008 planned projects, objectives, and accomplishments; and (ii) fiscal year 2007-2008 estimated expenditures and fund sources.

SECTION 1.(c)  The Center shall provide to the Governor, the Joint Legislative Commission on Governmental Operations, and the Fiscal Research Division: (i) a copy of the Center's annual audited financial statement within 30 days of issuance of the statement; and (ii) a copy of the Center's IRS Form 990.

SECTION 1.(d)  The Center shall provide a report containing detailed budget information to the Office of State Budget and Management in the same manner as State departments and agencies in preparation for biennium budget requests. Specific salary information will be provided upon written request by the Chairs of the Joint Legislative Commission on Governmental Operations or the Chairs of the House Appropriations Committee on Environment, Health, and Natural Resources, and the Chairs of the Senate Appropriations Committee on Natural and Economic Resources.

SECTION 2.  This act becomes effective July 1, 2006.