§ 130A-309.87. Eligibility for disposal tax proceeds. - North Carolina Statutes

§130A‑309.87.  Eligibility for disposal tax proceeds.

(a)        Receipt of Funds. –A county may not receive a quarterly distribution of the white goods disposaltax proceeds under G.S. 105‑187.24 unless the undesignated balance in thecounty's white goods account at the end of its fiscal year is less than thethreshold amount. Based upon the information in a county's Annual FinancialInformation Report, the Department must notify the Department of Revenue byMarch 1 of each year which counties may not receive a distribution of the whitegoods disposal tax for the current calendar year. The Department of Revenuewill credit the undistributed tax proceeds to the White Goods ManagementAccount.

If the undesignated balance ina county's white goods account subsequently falls below the threshold amount,the county may submit a statement to the Department, certified by the countyfinance officer, that the undesignated balance in its white goods account isless than the threshold amount. Upon receipt of the statement, the Departmentwill notify the Department of Revenue to distribute to the county its quarterlydistribution of the white goods disposal tax proceeds. The Department mustnotify the Department of Revenue of the county's change of status at least 30days prior to the next quarterly distribution.

For the purposes of thissubsection, the term "threshold amount" means twenty‑fivepercent (25%) of the amount of white goods disposal tax proceeds a countyreceived, or would have received if it had been eligible to receive them underG.S. 130A‑309.87, during the preceding fiscal year.

(b)        Annual FinancialInformation Report. – On or before November 1 of each year, a county mustsubmit a copy of its Annual Financial Information Report, prepared inaccordance with G.S. 159‑33.1, to the Department. The Secretary of theLocal Government Commission must require the following information in thatreport:

(1)        The tonnage of whitegoods scrap metal collected.

(2)        The amount ofrevenue credited to its white goods account. This revenue should include allreceipts derived from the white goods disposal tax, the sale of white goodsscrap metals and freon, and a grant from the White Goods Management Account.

(3)        The expendituresfrom its white goods account. The expenditures should include operatingexpenses and capital improvement costs associated with its white goodsmanagement program.

(4)        The designated andundesignated balance of its white goods account.

(5)        A comparison of theundesignated balance of its white goods account at the end of the fiscal yearand the amount of white goods disposal tax proceeds it received, or would havereceived if it had been eligible to receive it under G.S. 130A‑309.87,during the fiscal year. (1998‑24, s. 6.)