Appropriates the sum of $3 million from the General Fund to the National Institute of Minority Economic Development (Institute) in recurring funds for the 2023-2024 fiscal year to be used to (1) provide community assessments and data and technical assistance to minority- and women-owned businesses in the State; (2) to provide funding for affordable housing, minority- and women-owned businesses, community facilities, HBCU loans and grants, and technical assistance to women and minorities in the State; (3) to provide support to existing community development corporations in the State; and (4) to provide support for affordable housing, economic development, and community revitalization in communities in the State without an existing community development corporation. Appropriates the sum of $11 million from the General Fund to the Institute in nonrecurring funds for the 2023-2024 fiscal year to be used as follows:(1) $2.5 million to expand business incubation services in eastern North Carolina; (2) $2.5 million to acquire and renovate a facility in Durham to be used as a community and business education facility; (3) $1 million to expand community economic development services throughout the State; (4) $4 million for the Institute's Community Development Financial Institution Fund to provide funding for affordable housing, minority- and women-owned businesses, community facilities, minority farmers, HBCU low-interest loans, and technical assistance to historically underutilized businesses in the State; and (5) $1 million to be used as a match for a Partners In Equitable & Resilient Communities grant from the Melville Charitable Trust for disruptive community economic development activities. Effective July 1, 2023.
NATIONAL INST. OF MINORITY ECO. DEV. FUNDING.
|View NCGA Bill Details||2023-2024 Session|
AN ACT TO APPROPRIATE FUNDS TO THE NATIONAL INSTITUTE OF MINORITY ECONOMIC DEVELOPMENT TO SUPPORT ECONOMIC AND EDUCATIONAL DEVELOPMENT FOR WOMEN- AND MINORITY-OWNED BUSINESSES IN THE STATE.Intro. by Robinson, Blue.
Status: Re-ref to Appropriations/Base Budget. If fav, re-ref to Rules and Operations of the Senate (Senate action) (Mar 15 2023)
Tue, 14 Mar 2023 Senate: Filed
Wed, 15 Mar 2023 Senate: Passed 1st Reading
Wed, 15 Mar 2023 Senate: Ref To Com On Rules and Operations of the Senate
Wed, 15 Mar 2023 Senate: Withdrawn From Com
Bill S 311 (2023-2024)Summary date: Mar 14 2023 - View Summary