§ 105-459. Proration of T.V.A. funds. - North Carolina Statutes

§ 105‑459.  Proration ofT.V.A. funds.

The Department of Revenueshall determine each year, on the basis of current tax laws, the allocation ofthe Authority's valuation among the local governments in the same manner as ifthe property owned or operated by the Authority were owned or operated by aprivately owned public utility. The Department of Revenue and the Treasurer ofthe State of North Carolina shall then prorate the funds received from theAuthority by the State and local governments between the local governments uponthe basis of the foregoing calculations.  (1941, c. 85, s. 2; 1959, c. 1060; 1973, c. 476, s.193; 2009‑569, s. 2.)