NC S432

Eliminates public records law (Chapter 132) and open meetings law (Article 33C of Chapter 143) requirements for North Carolina nonprofit corporations that contract with the Department of Commerce for economic development purposes.

Removes the requirement that officers, employees, and governing board members of these contracted nonprofits comply with Chapter 138A (ethics laws), though employees earning less than $80,000 annually are exempt from certain ethics requirements.

Creates an exception allowing the Department of Commerce and its contracted entities to withhold business recruitment records indefinitely if no discretionary incentives are requested for a project and the business decides to expand or locate in the State.

Maintains existing provisions that allow temporary withholding of economic development records during active project negotiations, with disclosure required within 25 business days after a business announces commitment to the State.

Takes effect upon becoming law.