NC H1135

Creates the "Site and Building Development Fund" to provide subsidized loans (at 0-2% interest depending on county tier) to local government units for acquiring and improving property for business use.

Shifts eligibility focus from businesses to local government units, which must enter written agreements with the Department of Commerce requiring performance criteria, repayment obligations if businesses fail to meet criteria, and restrictions on property use (excluding entertainment, retail, office, and governmental purposes).

Requires the Department to contract for a strategic business facilities development analysis every four years to evaluate potential sites and buildings, and removes the Economic Investment Committee's role in project recommendations.

Establishes subsidized loans as secured obligations with repayment triggered after five years or upon property sale/lease for more than three years, with amounts repaid returned to the fund.

Appropriates $400,000 to the Department of Commerce for fiscal year 2014-2015 to pay for the initial strategic business facilities development analysis.