| 12 | 13 | | A BILL TO BE ENTITLED 1 |
|---|
| 13 | 14 | | AN ACT TO PROVIDE FINANCIAL SUPPORT FOR RECOVERY EFFORTS IN WESTERN 2 |
|---|
| 14 | 15 | | NORTH CAROLINA AND TO EXPAND COMMUNITY ECONOMIC DEVELOPMENT 3 |
|---|
| 15 | 16 | | SERVICES. 4 |
|---|
| 16 | 17 | | The General Assembly of North Carolina enacts: 5 |
|---|
| 17 | 18 | | SECTION 1.(a) There is appropriated from the General Fund to the National 6 |
|---|
| 18 | 19 | | Institute of Minority Economic Development (Institute), a nonprofit corporation, twenty million 7 |
|---|
| 19 | 20 | | three hundred thousand dollars ($20,300,000) in nonrecurring funds for the 2025-2026 fiscal year 8 |
|---|
| 20 | 21 | | to be used by the Institute as follows: 9 |
|---|
| 21 | 22 | | (1) Three hundred thousand dollars ($300,000) to provide programming support 10 |
|---|
| 22 | 23 | | for three women's business centers that provide technical support and capacity 11 |
|---|
| 23 | 24 | | building in western North Carolina, the Triad, and the Piedmont. 12 |
|---|
| 24 | 25 | | (2) Five million dollars ($5,000,000) to Community Development Corporations 13 |
|---|
| 25 | 26 | | (CDC), and to communities without CDCs, to expand community economic 14 |
|---|
| 26 | 27 | | development services. 15 |
|---|
| 27 | 28 | | (3) Ten million dollars ($10,000,000) to be used to assist residents in western 16 |
|---|
| 28 | 29 | | North Carolina whose primary residence was damaged because of Hurricane 17 |
|---|
| 29 | 30 | | Helene with long-term residential housing recovery efforts. 18 |
|---|
| 30 | 31 | | (4) Five million dollars ($5,000,000) for the Institute Capital (I-CAP) institution 19 |
|---|
| 31 | 32 | | for funding activities in the State. 20 |
|---|
| 32 | 33 | | SECTION 1.(b) There is appropriated from the General Fund to the National 21 |
|---|
| 33 | 34 | | Institute of Minority Economic Development (Institute), a nonprofit corporation, one million 22 |
|---|
| 34 | 35 | | dollars ($1,000,000) in recurring funds for the 2025-2026 fiscal year to be used by the Institute 23 |
|---|
| 35 | 36 | | to (i) assist with housing recovery efforts in western North Carolina, (ii) provide State match 24 |
|---|
| 36 | 37 | | funding for federal disaster-recovery State match requirements, and (iii) provide technical 25 |
|---|
| 37 | 38 | | assistance and community development services in other parts of the State. 26 |
|---|
| 38 | 39 | | SECTION 2. This act becomes effective July 1, 2025. 27 |
|---|