§ 115D-25.1. Dependent care assistance program. - North Carolina Statutes

§ 115D‑25.1. Dependent care assistance program.

The State Board of Community Colleges is authorized to provide eligibleemployees of constituent institutions a program of dependent care assistance asavailable under Section 129 and related sections of the Internal Revenue Codeof 1986, as amended. The State Board may authorize constituent institutions toenter into annual agreements with employees who elect to participate in theprogram to provide for a reduction in salary. With the approval of the Directorof the Budget, savings in the employer's share of contributions under theFederal Insurance Contributions Act on account of the reduction in salary maybe used to pay some or all of the administrative expenses of the program.Should the State Board decide to contract with a third party to administer theterms and conditions of a program of dependent care assistance, it may select acontractor only upon a thorough and completely competitive procurement process.(1989, c. 458, s. 2; 1991(Reg. Sess., 1992), c. 1044, s. 14(c); 1993, c. 561, s. 42; 1993 (Reg. Sess.,1994), c. 769, s. 7.28A; 1997‑443, s. 33.20(a); 1999‑237, s.28.27(a).)