North Carolina General Statutes 106-1018. Forest Development Fund
(a) The Forest Development Fund is created in the Department as a special fund. Revenue in the Fund does not revert at the end of a fiscal year, and interest and other investment income earned by the Fund accrues to it. The Fund is created to provide revenue to implement this Article. The Fund consists of the following revenue:
(1) Assessments on primary forest products collected under Article 84 of this Chapter.
(2) General Fund appropriations.
(3) Gifts and grants made to the Fund.
(b), (c)? Repealed by Session Laws 1997-352, s. 3.
(d) In any fiscal year, no more than five percent (5%) of the available funds generated by the Primary Forest Product Assessment Act may be used for program support under N.C. Gen. Stat. § 106-1013(c).
(e) Funds used for the purchase of equipment under N.C. Gen. Stat. § 106-1013(d) shall be limited to appropriations from the General Fund to the Forest Development Fund designated specifically for equipment purchase. ?(1977, c. 562, s. 8; c. 771, s. 4; 1981, c. 1127, s. 45; 1989, c. 727, s. 218(75); 1997-352, s. 3; 1997-443, s. 11A.119(a); 2011-145, s. 13.25(gg), (hh); 2019-177, s. 5.2(a).)
Terms Used In North Carolina General Statutes 106-1018
- Department: means the Department of Agriculture and Consumer Services. See North Carolina General Statutes 106-1012
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
- Forest development fund: means the Forest Development Fund created by N. See North Carolina General Statutes 106-1012