GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2025
S 1
SENATE BILL 542
Short Title: Western NC Support; Expand Comm. Eco. Dev. (Public)
Sponsors: Senators Blue, Robinson, and Lowe (Primary Sponsors).
Referred to: Rules and Operations of the Senate
March 26, 2025
*S542 -v-1*
A BILL TO BE ENTITLED 1
AN ACT TO PROVIDE FINANCIAL SUPPORT FOR RECOVERY EFFORTS IN WESTERN 2
NORTH CAROLINA AND T O EXPAND COMMUNITY E CONOMIC DEVELOPMENT 3
SERVICES. 4
The General Assembly of North Carolina enacts: 5
SECTION 1.(a) There is appropriated from the General Fund to the National 6
Institute of Minority Economic Development (Institute), a nonprofit corporation, twenty million 7
three hundred thousand dollars ($20,300,000) in nonrecurring funds for the 2025-2026 fiscal year 8
to be used by the Institute as follows: 9
(1) Three hundred thousand dollars ($300,000) to provide programming support 10
for three women's business centers that provide technical support and capacity 11
building in western North Carolina, the Triad, and the Piedmont. 12
(2) Five million dollars ($5,000,000) to Community Development Corporations 13
(CDC), and to communities without CDCs, to expand community economic 14
development services. 15
(3) Ten million dollars ($10,000,000) to be used to assist residents in western 16
North Carolina whose primary residence was damaged because of Hurricane 17
Helene with long-term residential housing recovery efforts. 18
(4) Five million dollars ($5,000,000) for the Institute Capital (I-CAP) institution 19
for funding activities in the State. 20
SECTION 1.(b) There is appropriated from the General Fund to the National 21
Institute of Minority Economic Development (Institute), a nonprofit corporation, one million 22
dollars ($1,000,000) in recurring funds for the 2025-2026 fiscal year to be used by the Institute 23
to (i) assist with housing recovery efforts in western North Carolina, (ii) provide State match 24
funding for federal disaster-recovery State match requirements, and (iii) provide technical 25
assistance and community development services in other parts of the State. 26
SECTION 2. This act becomes effective July 1, 2025. 27