NC H922

Prohibits public utilities from recovering costs through ratepayer rates for advertising, lobbying, political contributions, trade association dues, investor relations, executive travel and entertainment, and employee compensation for political activities

Requires utilities to submit annual reports by July 1 detailing all expenses related to prohibited activities, including itemized descriptions, third-party expenditures, and employee compensation allocated to lobbying or political influence work

Establishes civil penalties of $50,000 to $150,000 per violation for utilities that improperly recover prohibited costs, with each expense and each day of violation counting as separate offenses

Creates an "Energy Equity Fund" in the State Treasury to receive 75% of collected penalties, with funds designated for disaster relief and assisting low-income households in transitioning to zero-emission appliances

Mandates utilities publicly disclose whether advertising costs are paid by shareholders or ratepayers, and requires the NC Utilities Commission to initiate rulemaking by November 1, 2025 to implement the act