AN ACT TO AUTHORIZE LOCAL GOVERNMENTS TO APPROPRIATE MONEY FOR HISTORIC REHABILITATION AND TO CLARIFY AND STANDARDIZE THE REQUIREMENTS FOR APPROPRIATING FUNDS FOR LOCAL ECONOMIC DEVELOPMENT. Enacted October 20, 2015. Effective October 20, 2015.
Bill S 472 (2015-2016)Summary date: Oct 26 2015 - View summary
Bill S 472 (2015-2016)Summary date: Mar 26 2015 - View summary
Amends GS 158-7.1, providing that counties and cities are authorized to make appropriations for economic development purposes (previously, authorized to make appropriations for the aiding and encouraging of manufacturing enterprises, making industrial surveys, locating industrial and commercial plants, and encouraging the building of railroads). Establishes that such appropriations may also be determined by the governing body of the city or county commissioners to increase employment and industrial output (previously, determined in the discretion of the governing body or board that they will increase the population, taxable property, agricultural industries, and business prospects only of any city or county). Makes technical changes. Adds language to the list of permissible economic development activities that allows a city or county to make grants or loans for the rehabilitation of commercial or noncommercial historic structures, regardless of whether the structure is publicly or privately owned.
Makes technical changes.