NC H918

Appropriates $6,000,000 from the General Fund to the Department of Commerce for the 2021-2022 fiscal year to provide grants to chambers of commerce that experienced revenue loss from the COVID-19 pandemic.

Establishes the COVID-19 Chamber of Commerce Support Program administered by the Economic Investment Committee to award one-time grants to eligible chambers.

Chambers must demonstrate at least 10% gross receipts decrease either in the first quarter of 2021 compared to Q1 2020, or in calendar year 2020 compared to 2019, and must be tax-exempt, registered with the Secretary of State, and have at least one full-time employee.

Maximum grant amounts based on 2019 gross receipts: $50,000 for chambers with receipts up to $100,000; $75,000 for receipts $100,000-$500,000; and $100,000 for receipts exceeding $500,000, or 20% of 2019 gross receipts, whichever is less.

Grant applications must be filed by May 31, 2022, and if total requested grants exceed available funds, the Economic Investment Committee must reduce all awards proportionately; the act becomes effective July 1, 2021.