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NC S424
Bill
AI Summary
- Expands allowable uses for megasite funding beyond acquisition of specific sites identified through the state evaluation process to include all purposes described in the original fund statute
- Retains the $1,000,000 allocation for hiring a national site selection firm to evaluate and identify the five best-positioned megasites in North Carolina for advanced manufacturing
- Maintains the 85% cap on acquisition grants based on the lesser of purchase price or tax value for megasite properties
- Preserves requirements that local governments must have a binding purchase option and complete basic due diligence (boundary surveys, title searches, historic preservation reviews, wetlands delineation) before receiving grant funds
- Effective upon becoming law
Legislative Description
T/C: Megasites Funding Uses
Funds & Accounts
Last Action
Ref To Com On Rules and Operations of the Senate
3/25/2025
Committee Referrals
Rules and Operations of the Senate3/25/2025
Full Bill Text
No bill text available