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NC H752
Bill
Status
Introduced
4/2/2025
Primary Sponsor
Robert Reives
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AI Summary
- Appropriates $50 million in nonrecurring funds to create the Special Economic Development Fund for Rail, administered by the Division of Rail for rail construction, improvements, railcar/locomotive acquisition, and railyard construction
- Appropriates $100 million in nonrecurring funds to create the Special Economic Development Fund for Airports, administered by the Division of Aviation for airport capital improvements and incentivizing economically strategic flights
- Appropriates $30 million for fiscal year 2025-2026 to the North Carolina Ports Authority for construction of a roll-on-roll-off facility at the Port of Morehead City
- Limits Rail Fund allocations to 60% for federal grant matching and 30% for project preparation; limits Airports Fund to 80% for capital improvements and 17% for flight incentives, with state funds capped at 50% of project costs
- Requires initial implementation reports by March 1, 2026, with annual reports thereafter; caps administrative costs at 3% for both funds; effective date July 1, 2025
Legislative Description
Transportation Economic Development Funding
Appropriations
Last Action
Ref to the Com on Appropriations, if favorable, Rules, Calendar, and Operations of the House
4/3/2025
Committee Referrals
Appropriations4/3/2025
Full Bill Text
No bill text available