H.B. 454
GENERAL ASSEMBLY OF NORTH CAROLINA
Mar 22, 2023
SESSION 2023 HOUSE PRINCIPAL CLERK
H D
HOUSE BILL DRH40247-ML-117
Short Title: Concord/Distribution of ABC Net Profits. (Local)
Sponsors: Representative K. Baker.
Referred to:
1 A BILL TO BE ENTITLED
2 AN ACT TO CLARIFY THE DISTRIBUTION OF NET PROFITS FROM THE OPERATION
3 OF THE CITY OF CONCORD ALCOHOLIC BEVERAGE CONTROL BOARD.
4 The General Assembly of North Carolina enacts:
5 SECTION 1. Section 5.14 of S.L. 1985-861 reads as rewritten:
6 "Sec. 5.14. Distribution of profits. Out of the net profits remaining after the payment of all
7 costs and operating expenses, and after retaining a sufficient and proper working capital, the
8 Board of Alcoholic Beverage Control shall distribute the net profits as follows: the first fifteen
9 five percent (15%) (5%) for law enforcement; of the remaining balance, twenty-five percent
10 (25%) to Cabarrus County and the seventy-five percent (75%) to the City of Concord."
11 SECTION 2. This act is effective when it becomes law.
*DRH40247-ML-117*