House Bill 1114: NC Affordable Housing Act

• Appropriates $100,000,000 in recurring General Fund revenues to the North Carolina Housing Trust Fund for fiscal year 2022-2023 to expand affordable housing programs statewide.

• Establishes a $25,000,000 nonrecurring Manufactured Home Park Acquisition Fund in the North Carolina Housing Finance Agency to provide grants for nonprofit and public housing authority purchases of manufactured home parks.

• Adds "source of income" as a protected class in the State Fair Housing Act, making it unlawful to discriminate in housing based on government assistance (such as Section 8 vouchers or HOPE programs) or other lawful income sources.

• Modifies the real property transfer tax to impose a higher rate ($1.50 per $500) on "qualified investment conveyances" (rental property transfers), with two-thirds of revenues from these higher-rate conveyances dedicated to the Housing Trust Fund.

• Effective dates: funding provisions effective July 1, 2022; fair housing and tax amendments effective October 1, 2022.