North Carolina General Statutes 116-143.11. NC Promise Tuition Plan; State “buy down” of certain financial obligations; annual report
(a) The NC Promise Tuition Plan shall be established and implemented as provided by this section. Notwithstanding N.C. Gen. Stat. § 116-143 and N.C. Gen. Stat. § 116-11(7), the Board of Governors of The University of North Carolina shall set the rate of undergraduate tuition for Elizabeth City State University, the University of North Carolina at Pembroke, Fayetteville State University, and Western Carolina University as follows: the rate of tuition for students deemed to be North Carolina residents for purposes of tuition shall be five hundred dollars ($500.00) per academic semester and the rate of tuition for nonresident students shall be two thousand five hundred dollars ($2,500) per academic semester.
(b) Notwithstanding any other provision of law, the State shall “buy down” the amount of any financial obligation resulting from the established tuition rate that may be incurred by Elizabeth City State University, the University of North Carolina at Pembroke, Fayetteville State University, and Western Carolina University.
(c) When implementing the provisions of this section, the Board of Governors shall give due consideration to maintaining the unique historical character of each institution, including service to students who are first generation, college-going, economically disadvantaged, or minority.
(c1) This section does not apply to the rate of tuition charged for digital learning student credit hours provided with the support of a nonprofit corporation established by The University of North Carolina System Office pursuant to N.C. Gen. Stat. § 116-30.20
(d) By October 1 of each year, the Board of Governors and the chancellors of Elizabeth City State University, the University of North Carolina at Pembroke, Fayetteville State University, and Western Carolina University, respectively, shall submit a report to the Joint Legislative Education Oversight Committee, the House Appropriations Committee on Education, the Senate Appropriations Committee on Education/Higher Education, and the Fiscal Research Division on the amount of any financial obligation resulting from the established tuition rate incurred at each constituent institution and at least the following information for the fiscal year:
(1) The amount required to offset the forgone tuition receipts at each of the four constituent institutions as a result of the tuition rate established by this section and how those funds were allocated to each constituent institution.
Terms Used In North Carolina General Statutes 116-143.11
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Oversight: Committee review of the activities of a Federal agency or program.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
(2) The number of enrolled resident students at each constituent institution.
(3) The number of enrolled nonresident students at each constituent institution. (2016-94, s. 11.4(c); 2018-5, s. 10.5; 2021-180, s. 8.25(a); 2022-6, s. 2.11.)