NC S446

Appropriates $30 million in nonrecurring funds from the General Fund to the North Carolina Housing Trust Fund for fiscal year 2025-2026

Redirects 1.5% of register of deeds fees ($6.20 collected per deed) to the Housing Trust Fund, reducing the General Fund share from 20% to 18.5%

Directs 33% of the state's share of real estate transfer excise tax proceeds to the Housing Trust Fund on a recurring basis

Addresses affordable housing shortage affecting over 815,000 North Carolinians, with current fund balance at approximately $6 million compared to the original $50 million target

Effective date: July 1, 2025