NC S765

Renames Chapter 36D from "Community Trust for Persons with Severe Chronic Disabilities" to "North Carolina Community Third Party Trusts, Pooled Trusts Act" and expands the types of trusts authorized under state law.

Establishes requirements for Medicaid Pooled Trusts compliant with 42 U.S.C. § 1396p(d)(4), including that trusts be irrevocable, contain separate subaccounts for each beneficiary with pooled investment management, and require state payback of medical assistance upon beneficiary death or trust termination.

Requires nonprofit corporations administering trusts to have boards of 9-21 members with at least one-third being parents or relatives of disabled individuals, prohibits board member compensation, and mandates annual financial reporting and accounting to beneficiaries and the Department of Health and Human Services.

Permits trusts to disburse funds for goods, services, and reasonable burial expenses benefiting disabled individuals, but prohibits distributions that duplicate government services and limits Medicaid Pooled Trusts to disbursements solely for beneficiary benefit.

Authorizes the Department to adopt administrative rules governing trust eligibility requirements, perform annual audits, and establish state reimbursement claims against pooled trust subaccounts up to the total medical assistance paid on behalf of beneficiaries.