NC S386

Appropriates $30,000,000 in nonrecurring funds to the North Carolina Housing Trust Fund for the 2021-2022 fiscal year to address affordable housing shortage.

Redirects 1.5% of register of deeds fees collected under G.S. 161-10(a)(1) and (a)(1a) to the Housing Trust Fund, reducing the General Fund allocation from 20% to 18.5%.

Directs 33% of excise tax proceeds on real property conveyances to the North Carolina Housing Trust Fund, with remaining proceeds credited to the General Fund.

Establishes recurring revenue sources for sustainable long-term Housing Trust Fund operations to support home ownership, rentals, supportive housing, new construction, rehabilitation, and emergency repairs.

Effective July 1, 2021.