RESTORE THE AMERICAN DREAM.

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View NCGA Bill Details2023-2024 Session
Senate Bill 424 (Public) Filed Wednesday, March 29, 2023
AN ACT TO EXPAND WORKFORCE HOUSING BY PROVIDING CURRENT AND ONGOING FUNDING FOR THE HOUSING TRUST FUND.
Intro. by Batch, Garrett, Chaudhuri.
Status: Re-ref to Appropriations/Base Budget. If fav, re-ref to Rules and Operations of the Senate (Senate action) (Apr 5 2023)

Bill History:

S 424

Bill Summaries:

  • Bill S 424 (2023-2024)
    Summary date: Mar 30 2023 - View Summary

    Includes whereas clauses.

    Appropriates $30 million for 2023-24 from the General Fund to the North Carolina Housing Trust Fund to be used in accordance with the purposes of GS Chapter 122E (North Carolina Housing Trust and Oil Overcharge Act).

    Amends GS 161-11.5 by amending the distribution of the $6.20 of the fee collected by the register of deeds for registering or filing Instruments in General and registering or filing any deed of trust or mortgage, by decreasing the amount that goes to the General Fund from 20% to 18.5% and adds a distribution of 1.5% to the North Carolina Housing Trust Fund.

    Amends GS 105-228.30 by amending the distribution of the proceeds of the excise tax on instruments conveying an interest in real property so that 33% of the funds are remitted to the North Carolina Housing Trust Fund, with the remainder to the General Fund.

    Courts/Judiciary, Court System, Development, Land Use and Housing, Property and Housing, Government, Budget/Appropriations, Tax
    APPROP, GS 105, GS 161
  • Bill S 424 (2023-2024)
    Summary date: Mar 29 2023 - View Summary

    To be summarized.
View: All Summaries for Bill