Report to the 2007 General Assembly of North Carolina - Page 16 |
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11
Natural Heritage Trust Fund. The Natural Heritage Trust Fund ( NHTF) was
established in 1987 and serves as a source of funding for State agencies for the
acquisition and preservation of important lands in the State, for the preservation of
ecological diversity, and for an inventory of the natural heritage resources of the
State. The NHTF is governed by a 12- member Board of Trustees. The members of
the Board of Trustees serve staggered terms and are appointed in equal numbers by
the Governor, the General Assembly upon the recommendation of the Speaker of
the House of Representatives, and the General Assembly upon the recommendation
of the President Pro Tempore of the Senate.
The two primary sources of funding for the NHTF are the State excise tax on
conveyances and a portion of the additional fee charged for a personalized license
plate1. The State levies an excise tax on each deed, instrument, or writing by which
any interest in real property is conveyed to another person. The amount of the tax is
$ 1.00 on each $ 500 of the consideration or value of the interest or property
conveyed. The tax must be paid to the county register of deeds before an
instrument may be recorded. One- half of this amount is retained by the county and
credited to the county's general fund. The remainder is remitted to the State
quarterly. Of the amount remitted to the State, 25% is credited to the Natural
Heritage Trust Fund. In addition, the State charges an additional fee of $ 30 for each
personalized license plate. Fifteen dollars of this additional fee for each
personalized plate is credited to the NHTF.
State funds contributed to the NHTF have varied significantly over the past
five fiscal years. The amount of State funds contributed has ranged from $ 12.6
1 In some cases, the NHTF also receives a portion of the additional fee charged for a specialty license plate.
The NHTF receives $ 10 for each " First in Forestry" license plate and $ 15 for each out- of- state college
specialty license plate.
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| Title | Report to the 2007 General Assembly of North Carolina - Page 16 |
| Pres Local File Path-M | \Preservation_content\StatePubs\pubs_borndigital\images_master\ |
| Full Text | 11 Natural Heritage Trust Fund. The Natural Heritage Trust Fund ( NHTF) was established in 1987 and serves as a source of funding for State agencies for the acquisition and preservation of important lands in the State, for the preservation of ecological diversity, and for an inventory of the natural heritage resources of the State. The NHTF is governed by a 12- member Board of Trustees. The members of the Board of Trustees serve staggered terms and are appointed in equal numbers by the Governor, the General Assembly upon the recommendation of the Speaker of the House of Representatives, and the General Assembly upon the recommendation of the President Pro Tempore of the Senate. The two primary sources of funding for the NHTF are the State excise tax on conveyances and a portion of the additional fee charged for a personalized license plate1. The State levies an excise tax on each deed, instrument, or writing by which any interest in real property is conveyed to another person. The amount of the tax is $ 1.00 on each $ 500 of the consideration or value of the interest or property conveyed. The tax must be paid to the county register of deeds before an instrument may be recorded. One- half of this amount is retained by the county and credited to the county's general fund. The remainder is remitted to the State quarterly. Of the amount remitted to the State, 25% is credited to the Natural Heritage Trust Fund. In addition, the State charges an additional fee of $ 30 for each personalized license plate. Fifteen dollars of this additional fee for each personalized plate is credited to the NHTF. State funds contributed to the NHTF have varied significantly over the past five fiscal years. The amount of State funds contributed has ranged from $ 12.6 1 In some cases, the NHTF also receives a portion of the additional fee charged for a specialty license plate. The NHTF receives $ 10 for each " First in Forestry" license plate and $ 15 for each out- of- state college specialty license plate. |
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