§ 113A-232. Conservation Grant Fund. - North Carolina Statutes

§ 113A‑232.  Conservation Grant Fund.

(a)        Fund Created. – The Conservation Grant Fund is createdwithin the Department of Environment and Natural Resources. The Fund shall beadministered by the Department. The purpose of the Fund is to stimulate the useof conservation easements and conservation tax credits, to improve the capacityof private nonprofit land trust organizations to successfully accomplishconservation projects, to better equip real estate related professionals topursue opportunities for conservation, to increase landowner participation inland and water conservation, and to provide an opportunity to leverage privateand other public monies for conservation easements.

(b)        Fund Sources. – The Conservation Grant Fund shall consist ofany monies appropriated to it by the General Assembly and any monies receivedfrom public or private sources. Unexpended monies in the Fund that wereappropriated from the General Fund by the General Assembly shall revert at theend of the fiscal year unless the General Assembly otherwise provides.Unexpended monies in the Fund from other sources shall not revert and shallremain available for expenditure in accordance with this Article.

(c)        Property Eligibility. – In order for real property or aninterest in real property to be the subject of a grant under this Article, thereal property or interest in real property must possess or have a highpotential to possess ecological value, must be reasonably restorable, and mustqualify for tax credits under G.S. 105‑130.34 or G.S. 105‑151.12.

(c1)      Grant Eligibility. – State conservation land managementagencies, local government conservation land management agencies, and privatenonprofit land trust organizations are eligible to receive grants from theConservation Grant Fund. Private nonprofit land trust organizations must bequalified pursuant to G.S. 105‑130.34 and G.S. 105‑151.12 and mustbe certified under section 501(c)(3) of the Internal Revenue Code.

(d)        Use of Revenue. – Revenue in the Conservation Grant Fund maybe used only for the following purposes:

(1)        The administrative costs of the Department in administeringthe Fund.

(2)        Conservation grants made in accordance with this Article.

(3)        To establish an endowment account, the interest from whichwill be used for a purpose described in G.S. 113A‑233(a). (1997‑226, s. 6; 1997‑443, s. 11A.119(b); 2002‑155,s. 2; 2003‑340, s. 1.4.)