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North Carolina General Statutes Chapter 106. Agriculture § 106-1018. Forest Development Fund

Current as of January 01, 2023 | Updated by Findlaw Staff

(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(b), (c) Repealed by S.L. 1997-352, § 3, eff. Aug. 1, 1997.

(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 G.S. 106-1013(c).

(e) Funds used for the purchase of equipment under G.S. 106-1013(d) shall be limited to appropriations from the General Fund to the Forest Development Fund designated specifically for equipment purchase.

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Cite this article: FindLaw.com - North Carolina General Statutes Chapter 106. Agriculture § 106-1018. Forest Development Fund - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-106-agriculture/nc-gen-st-sect-106-1018/

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