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NC S809
Bill
AI Summary
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Appropriates $30,000,000 in nonrecurring funds to the North Carolina Housing Trust Fund for fiscal year 2024-2025.
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Redirects 1.5% of register of deeds fees (from the $6.20 fee collected under G.S. 161-10) to the Housing Trust Fund instead of the General Fund.
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Directs 33% of state excise tax proceeds on real property conveyances to the North Carolina Housing Trust Fund, with the remaining funds going to the General Fund.
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Reduces the General Fund allocation from register of deeds fees from 20% to 18.5% to accommodate the new Housing Trust Fund revenue stream.
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Becomes effective July 1, 2024.
Legislative Description
Expand Workforce Housing
Appropriations; Budgeting; Council Of State; Funds & Accounts; Housing; Housing Finance Agency; Property; Public; Public Officia
Last Action
Ref To Com On Rules and Operations of the Senate
5/6/2024