Bill > S589

This bill establishes an economic assistance program for Tier One counties in North Carolina, which are areas designated as economically distressed. The bill appropriates $400 million in nonrecurring funds from the General Fund to the Department of Commerce for the 2025-2026 fiscal year to provide grants to these counties. Eligible counties can receive up to $10 million each and must submit a detailed proposal demonstrating how the funds will be used to promote self-sufficiency, infrastructure improvement, education, or workforce development. The Department of Commerce will review and approve grant applications, with up to 1% of the funds allocated for program administration. Counties must report on their use of the funds, and if a county is found to be ineligible for the grant or misuses the funds, they will be required to forfeit and repay the money. The Department of Commerce is also mandated to submit annual reports to legislative committees detailing the total funding disbursed, number of county applicants, and the proposed and actual uses of the funds. The bill aims to empower local economies in the most economically challenged areas of North Carolina by providing targeted financial assistance.

Budget and Finance

https://www.ncleg.gov/BillLookUp/2025/S589