H7 - LRC/Strengthen Savings Reserve. (SL 2017-5)

Overview: S.L. 2017-5 amends G.S. 143C-4-2 to (i) require the automatic transfer of a set amount of funds each fiscal year to the Savings Reserve and (ii) limit the uses for which funds in the Savings Reserve may be expended.

The section requiring the Office of State Budget and Management and the Fiscal Research Division to start establishing the target required under G.S. 143C-4-2(f), as enacted by this act, became effective April 13, 2017. The remainder of this act becomes effective October 1, 2017.