GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 1991
CHAPTER 803
The General Assembly of North Carolina enacts:
Section 1. G.S. 117-3.1(b) reads as rewritten:
"(b) Rate. -
1. For
the 1991-92 fiscal year, the regulatory fee shall be three and three-fourths
cents (3 3/4¢) for each electric membership corporation's North Carolina meter
connected for service for that quarter and three and three-fourths cents (3
3/4¢) for each telephone membership corporation's North Carolina access line
connected for service for that quarter.
2. For each
fiscal years beginning on or after July 1, 1992, year, the
regulatory fee shall be that the greater of the following:
(1) The rate established
by the General Assembly for that year for each electric membership
corporation's North Carolina meter connected for service and each telephone
membership corporation's North Carolina access line connected for service for
each quarter. quarter of the year.
(2) Four cents (4¢) for each electric membership corporation's North Carolina meter connected for service and for each telephone membership corporation's North Carolina access line connected for service for each quarter of the year.
When the Authority prepares its budget request for the
upcoming fiscal year, the Authority shall propose a rate for the regulatory
fee. For fiscal years beginning in an odd-numbered year, that proposed
rate shall be included in the budget message the Governor submits to the
General Assembly pursuant to G.S. 143-11. For fiscal years beginning in
an even-numbered year, that proposed rate shall be included in a special budget
message the Governor shall submit to the General Assembly. The If
the General Assembly decides to set the regulatory fee at a rate higher
than the rate in subdivision (2) of this subsection, it shall set the
regulatory fee by law.
The regulatory fee may not exceed the amount necessary to generate funds sufficient to defray the estimated cost of the operations of the Authority for the upcoming fiscal year, including a reasonable margin for a reserve fund. The amount of the reserve may not exceed the estimated cost of operating the Authority for the upcoming fiscal year. In calculating the amount of the reserve, the General Assembly shall consider all relevant factors that may affect the cost of operating the Authority or a possible unanticipated increase or decrease in North Carolina electric meters and North Carolina telephone access lines."
Sec. 2. This act becomes effective July 1, 1992.
In the General Assembly read three times and ratified this the 30th day of June, 1992.
James C. Gardner
President of the Senate
Daniel Blue, Jr.
Speaker of the House of Representatives