Bill > H154

This bill aims to dissolve the relationship between the State of North Carolina and NCInnovation, a state-affiliated organization, by requiring NCInnovation to return all state-provided funds and assets back to the state. Specifically, NCInnovation must transfer all funds (except for certain excluded amounts and their associated interest) and any assets originally purchased with state funds, under the guidance of the State Controller. The State Controller is tasked with facilitating this transfer and depositing the funds into the General Fund. The bill explicitly states that this transfer does not constitute an "appropriation" under the state constitution, meaning the funds will remain unappropriated until the General Assembly specifically allocates them in a future legislative act. Additionally, the bill will repeal the legal article governing NCInnovation 60 days after the act becomes law, effectively ending the organization's official status. The act becomes effective immediately upon becoming law, signaling a swift and decisive end to the state's relationship with NCInnovation.

Budget and Finance

https://www.ncleg.gov/BillLookUp/2025/H154