NC H889

Appropriates $10,000,000 in nonrecurring funds for the 2023-2024 fiscal year to the Department of Commerce for the NC Clean Energy Innovation and Research Fund to support clean energy innovation and research grants.

Appropriates $4,500,000 in nonrecurring funds for the 2023-2024 fiscal year to the Department of Commerce for the One North Carolina Fund to provide competitive grants for clean energy and energy efficiency innovation, entrepreneurship, and small business development.

Establishes the NC Clean Energy Innovation and Research (CLEIR) Fund as a special revenue fund administered by the Office of Science, Technology and Innovation to make grants to private businesses with fewer than 100 employees, nonprofit organizations, local governments, and State agencies.

Designates three priority areas for grant funding: development and deployment of renewable energy and energy efficient technologies, development of the clean energy industry, and attraction of private-sector investments and entrepreneurial growth in renewable and clean technology businesses.

Permits the Department of Commerce to set grant caps, require matching funds from private businesses, and use up to $100,000 or 5% annually (whichever is greater) for fund administration; appropriated funds must be spent or encumbered by June 30, 2027, or revert to the General Fund.