A BILL TO BE ENTITLED
AN ACT to appropriate funds to establish a reserve for payouts of bonus leave.
The General Assembly of North Carolina enacts:
SECTION 1.(a)  The North Carolina Community College System has an unfunded, accrued liability related to the awarding of bonus leave days, as authorized by the General Assembly. The estimated unfunded liability is twenty‑four million two hundred eighty‑four thousand one hundred thirty‑six dollars ($24,284,136).
SECTION 1.(b)  There is appropriated from the General Fund to the Community Colleges System Office the sum of two million four hundred forty‑nine thousand nine hundred sixty‑seven dollars ($2,449,967) for the 2006‑2007 fiscal year to establish a nonreverting reserve account for the purposes of paying out bonus leave days upon the separation from service of employees in State‑funded positions.
SECTION 2.  This act becomes effective July 1, 2006.