Bill > H909

This bill establishes a State Infrastructure Bank Board to administer a new state infrastructure banking program that can provide loans and financial assistance for transportation, water and sewer, and other public infrastructure projects. The board will consist of 10 voting members, including state agency heads and appointed experts in local government and finance, who will meet at least twice a year. The board can provide loans at various interest rates, including below-market rates, to help facilitate infrastructure projects that might not otherwise be financially viable. The board is authorized to leverage private capital through innovative financing strategies like loan guarantees, public-private partnerships, and blended financing packages. The board must solicit private capital contributions while ensuring public benefit and transparency, and can provide financial assistance to regional entities and multi-jurisdictional projects. The State Infrastructure Bank can be capitalized through state appropriations, federal grants, and private contributions, and may issue revenue bonds. The board is required to submit annual reports detailing its activities, loan applications, and the amount of private capital leveraged. The bill transfers existing infrastructure bank funds to this new board and will become effective on July 1, 2025, applying to loan applications made on or after that date.

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https://www.ncleg.gov/BillLookUp/2025/H909