NC S424

Appropriates $30,000,000 in nonrecurring funds to the North Carolina Housing Trust Fund for fiscal year 2023-2024 to support affordable housing development and assistance.

Redirects 1.5% of register of deeds fees (from the $6.20 fee collected under G.S. 161-11.5) to the Housing Trust Fund, reducing the General Fund allocation from 20% to 18.5%.

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

Establishes recurring revenue sources to sustain the Housing Trust Fund for addressing North Carolina's affordable housing shortage, which affects over 815,000 residents.

Becomes effective July 1, 2023.