KFP: HB 117 would end electric fund transfers

by David Anderson
Kinston Free Press

House Bill 117, which is currently before the Public Utilities Committee, calls for ending transfers of money from municipal electric funds to general funds in order to balance the budget.

The mayor suggested ways to make it the bill better, such as giving the LGC the authority to reduce the transfer limit over time, rather than eliminate it all at once; including potential benefits of cost reductions from the ongoing merger of Progress Energy and Duke Energy; and more methods of debt relief.

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