NC H108

Creates the Site and Building Development Fund administered by the Department of Commerce to provide loans to local government units for acquiring and developing qualified business facilities.

Establishes loan terms including 15-year maximum duration, zero percent interest for tier one counties, one percent for tier two counties, and two percent for tier three counties, with loans due upon sale or long-term lease of the property.

Requires the Department to develop a development plan (updated every four years) and written guidelines for selecting qualified business facilities, considering state economic development goals, rural area preference, and project necessity.

Limits outstanding loan balances to tier three counties to thirty percent of the difference between cumulative appropriations and total expenses paid by the Fund.

Requires annual reporting to the Joint Legislative Commission on Governmental Operations detailing all outstanding loans, approvals, defaults, and repayment status until the Fund depletes its assets.