NC H1153

Establishes the Critical Technologies Manufacturing Fund within the North Carolina Department of Commerce to provide grants supporting manufacture of critical technologies including semiconductors, cybersecurity, electrical grid infrastructure, and drinking water infrastructure.

Provides grants up to $200,000 to eligible manufacturing businesses (NAICS sectors 31-33) that manufacture or agree to manufacture critical technologies in North Carolina, with grants tied to job creation and compliance requirements.

Prioritizes grants for applicants not currently manufacturing critical technologies but would begin doing so, and for those using grants as required cost-share for federal manufacturing grants.

Allows the Department to use up to 5% of funds for administration and up to 10% annually for state-based businesses for aligned purposes; requires annual reporting to legislative committees on grant awards, recipients, and amounts recaptured from non-compliant businesses.

Appropriates $4,000,000 in nonrecurring General Fund dollars to the Department of Commerce for the 2022-2023 fiscal year; takes effect July 1, 2022.