§ 116-17.1. Dependent care assistance program. - North Carolina Statutes

§ 116‑17.1. Dependent care assistance program.

The Board of Governors of The University of North Carolina isauthorized to provide eligible employees of constituent institutions a programof dependent care assistance as available under Section 129 and relatedsections of the Internal Revenue Code of 1986, as amended. The Board ofGovernors may authorize constituent institutions to enter into annualagreements with employees who elect to participate in the program to providefor a reduction in salary. With the approval of the Director of the Budget,savings in the employer's share of contributions under the Federal InsuranceContributions Act on account of the reduction in salary may be used to pay someor all of the administrative expenses of the program. Should the Board ofGovernors decide to contract with a third party to administer the terms andconditions of a program of dependent care assistance, it may select acontractor only upon a thorough and completely competitive procurement process.(1989, c. 458, s. 3; 1991(Reg. Sess., 1992), c. 1044, s. 14(d); 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).)