Uncategorized

Senate leaders turn over Golden Leaf

Most of the details of the latest version of the tax package under consideration by Senate leaders were reported last night and this morning, but one interesting item didn’t make many of the stories.

The Senate revenue plan would divert $90 million a year for the next two years from the Golden Leaf Foundation to the General Fund to help address the budget shortfall.

The Foundation receives half of the state’s annual payment from the national tobacco settlement and makes grants to spur economic development.  Golden Leaf is run by Dan Gerlach, who was former Governor Mike Easley’s senior budget adviser.

Senator Dan Clodfelter, one of the primary architects of the Senate tax package, introduced legislation earlier in the session to divert the Golden Leaf money for two years.

The News & Observer reported earlier this month that Golden Leaf had $553 million in assets as of April 30, down from $731 million last year.  Losses in the market cost the Foundation $78 million. Another $100 million was paid out in grants, most of it to lure a Spirit Aerosytems plan to the Global Transpark.

One Comment


  1. Tarchilles

    June 19, 2009 at 8:49 pm

    Will Goldie Leaf mexecutives be taking a pay cut this year. How much does Gerlach make? Did Easley get him more money than he got his wife?

Check Also

Anthony Scaramucci thought HB2 was “shameful”

Anthony Scaramucci, President Trump’s new communications director, was ...

Top Stories from NCPW

  • News
  • Commentary

Two groups seeking state contracts to run struggling North Carolina schools have professional ties t [...]

North Carolinians will lose their “precious right to vote,” as U.S. Supreme Court Justice Ruth Bader [...]

Saturday nights at the 311 Motor Speedway in rural Pine Hall smell of fast food and fuel. Wooden ble [...]

Cornelius Redfearn, principal at Durham’s Glenn Elementary, said Tuesday night that the looming unce [...]

The post NCAA Legitimacy Deflated appeared first on NC Policy Watch. [...]

There are lots of reasons for people to get off of the sidelines and commit themselves to new and su [...]

4---number of days since The Trump administration announced its decision to halt cost-sharing subsid [...]

Hypocrisy in politics is hardly a new phenomenon but rarely is it as boldly on display as it was las [...]

Featured | Special Projects

NC Budget 2017
The maze of the NC Budget is complex. Follow the stories to follow the money.
Read more


NC Redistricting 2017
New map, new districts, new lawmakers. Here’s what you need to know about gerrymandering in NC.
Read more