Bill > S736

This bill comprehensively addresses housing affordability and accessibility in North Carolina through multiple strategic initiatives. The bill increases the North Carolina Housing Finance Agency's bonding capacity from $12 billion to $18 billion and establishes a new Housing Innovation Office with $5 million annual funding to research and implement housing solutions. It introduces several tax incentives and financial mechanisms to support affordable housing, including a new tax credit for donations to the Housing Trust Fund and credits for converting hotels/motels into affordable housing units. The legislation also mandates zoning changes that allow more accessory dwelling units and higher-density housing near transit stops, and requires local governments to analyze equitable housing distribution in their comprehensive plans. Additionally, the bill appropriates significant funds for various housing-related programs, such as emergency rental assistance, homelessness prevention, down payment assistance, and a new workforce development program to train construction workers. The bill also establishes protections for tenants, including alternative security deposit options and legal representation in eviction proceedings, and creates funds to support hurricane-impacted communities and historically underinvested neighborhoods. Overall, the bill takes a multifaceted approach to addressing North Carolina's housing challenges by combining financial incentives, regulatory reforms, and targeted funding programs.

https://www.ncleg.gov/BillLookUp/2025/S736