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NC H549
Bill
Status
4/2/2019
Primary Sponsor
Chaz Beasley
Click for details
AI Summary
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Appropriates $2,500,000 in nonrecurring funds to the Department of Commerce for fiscal year 2019-2020 and $2,500,000 for fiscal year 2020-2021 to provide matching grants to nonprofits for affordable housing planning and construction projects
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Requires each nonprofit grantee to provide $1.00 in non-State matching funds for every $1.00 of state grant funds received, with grant disbursement permitted on a monthly basis as documentation of matching funds is submitted
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Any unmatched funds remaining after matching requirements are met shall revert to the General Fund on June 30, 2021
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Department of Commerce must submit reports to the Joint Legislative Oversight Committee on Agriculture and Natural and Economic Resources by May 1, 2020 and May 1, 2021 detailing the number of grants issued, recipients, geographic allocation, and affordable housing units developed
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Act becomes effective July 1, 2019
Legislative Description
Matching Funds for Affordable Housing
Last Action
Ref to the Com on Appropriations, Agriculture and Natural and Economic Resources, if favorable, Rules, Calendar, and Operations of the House
4/3/2019