§ 113-44.15. Parks and Recreation Trust Fund.
§ 113‑44.15. Parks andRecreation Trust Fund.
(a) Fund Created. Thereis established a Parks and Recreation Trust Fund in the State Treasurer'sOffice. The Trust Fund shall be a nonreverting special revenue fund consistingof gifts and grants to the Trust Fund, monies credited to the Trust Fundpursuant to G.S. 105‑228.30(b), and other monies appropriated to theTrust Fund by the General Assembly. Investment earnings credited to the assetsof the Fund shall become part of the Fund.
(b) Use. Funds in theTrust Fund are annually appropriated to the North Carolina Parks and RecreationAuthority and, unless otherwise specified by the General Assembly or the termsor conditions of a gift or grant, shall be allocated and used as follows:
(1) Sixty‑fivepercent (65%) for the State Parks System for capital projects, repairs andrenovations of park facilities, and land acquisition, and to retire debtincurred for these purposes under Article 9 of Chapter 142 of the GeneralStatutes.
(2) Thirty percent (30%)to provide matching funds to local governmental units or public authorities asdefined in G.S. 159‑7 on a dollar‑for‑dollar basis for localpark and recreation purposes. The appraised value of land that is donated to alocal government unit or public authority may be applied to the matchingrequirement of this subdivision. These funds shall be allocated by the NorthCarolina Parks and Recreation Authority based on criteria patterned after theOpen Project Selection Process established for the Land and Water ConservationFund administered by the National Park Service of the United States Departmentof the Interior.
(3) Five percent (5%)for the Coastal and Estuarine Water Beach Access Program.
(b1) GeographicDistribution. In allocating funds in the Trust Fund under this section, theNorth Carolina Parks and Recreation Authority shall make geographicdistribution across the State to the extent practicable.
(b2) AdministrativeExpenses. Of the funds appropriated to the North Carolina Parks andRecreation Authority from the Trust Fund each year, no more than three percent(3%) may be used by the Department for operating expenses associated withmanaging capital improvements projects, acquiring land, and administration oflocal grants programs.
(c) Reports. The NorthCarolina Parks and Recreation Authority shall report no later than October 1 ofeach year to the Joint Legislative Commission on Governmental Operations, theHouse and Senate Appropriations Subcommittees on Natural and EconomicResources, the Fiscal Research Division, and the Environmental ReviewCommission on allocations from the Trust Fund from the prior fiscal year.
(d) Debt. TheAuthority may allocate up to fifty percent (50%) of the portion of the annualappropriation identified in subdivision (b)(1) of this section to reimburse theGeneral Fund for debt service on special indebtedness to be issued or incurredunder Article 9 of Chapter 142 of the General Statutes for the purposesprovided in subdivision (b)(1) of this section and for waterfront access. Inorder to allocate funds for debt service reimbursement, the Authority mustidentify to the State Treasurer the specific parks projects for which it wouldlike special indebtedness to be issued or incurred and the annual amount itintends to make available, and request the State Treasurer to issue or incurthe indebtedness. After special indebtedness has been issued or incurred for aparks project requested by the Authority, the Authority must credit to theGeneral Fund each year the actual aggregate principal and interest payments tobe made in that year on the special indebtedness, as identified by the StateTreasurer. (1993(Reg. Sess., 1994), c. 772, s. 1; 1995, c. 456, s. 2; 1995 (Reg. Sess., 1996),c. 646, s. 20; 1998‑212, ss. 14.6(a), 14.7; 2001‑114, s. 1; 2001‑487,s. 73; 2004‑179, s. 2.4; 2007‑323, ss. 12.8, 29.14(f); 2009‑484,s. 13.)