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NC S311
Bill
Status
3/14/2023
Primary Sponsor
Gladys Robinson
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AI Summary
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Appropriates $3,000,000 in recurring General Fund dollars to the National Institute of Minority Economic Development for the 2023-2024 fiscal year to provide community assessments, technical assistance, and support to minority- and women-owned businesses, HBCUs, and community development corporations.
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Appropriates $11,000,000 in nonrecurring General Fund dollars for the 2023-2024 fiscal year, allocated as follows: $2,500,000 to expand business incubation services in Rocky Mount, $2,500,000 to acquire and renovate a community and business education facility in Durham, $1,000,000 to expand community economic development services statewide, $4,000,000 for the Community Development Financial Institution Fund, and $1,000,000 as a match for a Melville Charitable Trust grant.
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Total funding for fiscal year 2023-2024 is $14,000,000 across recurring and nonrecurring appropriations.
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Effective date for Section 1 is July 1, 2023, with remaining provisions effective upon enactment.
Legislative Description
National Inst. of Minority Eco. Dev. Funding
For-profit; Corporations
Last Action
Re-ref to Appropriations/Base Budget. If fav, re-ref to Rules and Operations of the Senate
3/15/2023