Bill > H604

This bill creates two separate grant programs aimed at supporting rural communities and downtown areas in North Carolina: the Rural Community Development Grant Program and the Downtown Revitalization Grant Program. Each program will receive $40 million in nonrecurring funds for the 2025-2026 fiscal year, with the Rural Economic Development Division (REDD) managing the Rural Community Development Grant Program and the Department of Commerce overseeing the Downtown Revitalization Grant Program. The Rural Community Development Grant Program seeks to reverse rural depopulation trends by helping local governments attract business investment and transform communities into viable "commuter towns," with grants awarded competitively based on factors like non-State investment, potential job growth, and community support. Grants will require a dollar-for-dollar match from non-State funds and cannot exceed $2 million per award. Similarly, the Downtown Revitalization Grant Program will provide grants to local governments to enhance downtown areas, making them more appealing and functional to attract businesses and residents. Both programs require applicants to submit comprehensive plans demonstrating how the grants will support community or downtown development. The bill mandates an annual report detailing grant awards and recipients, and becomes effective on July 1, 2025.

Budget and Finance

https://www.ncleg.gov/BillLookUp/2025/H604