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NC S542
Bill
AI Summary
- Appropriates $20.3 million in nonrecurring funds to the National Institute of Minority Economic Development for fiscal year 2025-2026
- Allocates $10 million for long-term residential housing recovery for western North Carolina residents whose homes were damaged by Hurricane Helene
- Provides $5 million to Community Development Corporations and communities without CDCs to expand economic development services
- Directs $5 million to the Institute Capital (I-CAP) institution for funding activities statewide and $300,000 for three women's business centers in western NC, the Triad, and the Piedmont
- Appropriates $1 million in recurring funds for ongoing housing recovery, federal disaster-recovery matching funds, and technical assistance throughout the state
- Effective date: July 1, 2025
Legislative Description
Western NC Support; Expand Comm. Eco. Dev
Appropriations
Last Action
Re-ref Com On Appropriations/Base Budget
3/26/2025
Committee Referrals
Appropriations/Base Budget3/26/2025
Rules and Operations of the Senate3/26/2025
Full Bill Text
No bill text available