NC S671

Department of Commerce and entities using development tier designations for economic development purposes are exempt from this bill's requirements.

All other state departments, authorities, and entities using state funds must discontinue use of development tier designations by July 1, 2025, for programs including taxes, farmland preservation, spay and neuter programs, wastewater reserves, public safety grants, and housing tax credits.

Each affected entity must independently develop replacement criteria designed to achieve their program's objectives and report recommendations to the Fiscal Research Division and relevant legislative oversight committees by July 1, 2024.

Development tier two areas expand from 40 to 50 counties in the annual ranking definition under G.S. 143B-437.08.

Secretary of Commerce must identify census tracts in tier three areas that are low-wealth or rural, defined as having population density below 500 people per square mile or median household income at least 60 percent below the county median.