S681 - Agency Policy Directives/2019-2020. (SL 2020-78)

Overview: Sec. 17.4 of S.L. 2020-78, establishes the North Carolina Veterans Cemeteries Trust Fund (Fund), a special fund within and administered by the Department of Military and Veterans Affairs (Department) consisting of interest and investment earnings on monies in the Fund and any other funds, as directed by the General Assembly. This section requires the Fund to accumulate until sufficient interest is generated to maintain the State's veterans' cemeteries once they have reached full capacity, limits use of interest earnings to maintenance of existing veterans' cemeteries once they reach full capacity, prohibits expenditure of interest to open new veterans' cemeteries, prohibits any spending of the principal, and gives the Veterans Affairs Commission sole authority to approve the authorized uses of the Fund without direction from or supervision of the Secretary of the Department.

This section became effective July 1, 2020.