NC H1115

Appropriates $2,200,000 in nonrecurring funds from the General Fund for fiscal year 2022-2023 to the Office of State Budget and Management.

Directs the appropriated funds as a grant to the National Institute of Minority Economic Development, a nonprofit organization, to renovate and reposition an office building it owns.

The renovated space will become the Center for Entrepreneurship, providing affordable small business incubation space, skilled business development assistance, and coaching.

The Center will provide access to Community Development Financial Institution (CDFI) lending resources for small business owners.

Act becomes effective July 1, 2022.