NC H943

Creates the North Carolina Small Business Technology and Innovation (SBTI) Program administered by the NC Board of Science and Technology to provide grants to eligible small businesses for research and development projects addressing state agency needs.

Establishes three phases of funding: Phase I grants up to $150,000 for feasibility studies, Phase II grants up to $1,000,000 for further development, and Phase III grants to match private sector funding (capped at one-third of private funds).

Limits eligibility to for-profit North Carolina-based businesses with no more than 500 employees that submit qualified applications to participating state agencies and certify that at least 51% of research will be conducted in North Carolina.

Appropriates $4,000,000 for fiscal year 2013-2014 and $8,000,000 for fiscal year 2014-2015 to fund the program, with the Board authorized to use up to 5% of allocated funds for administration costs.

Requires the Board to publish annual reports on program fund disbursement and use to the Joint Legislative Commission on Governmental Operations, Finance and Appropriations Committee chairs, and the Fiscal Research Division.