RESTORE THE AMERICAN DREAM.

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View NCGA Bill Details(link is external)2025-2026 Session
Senate Bill 750 (Public) Filed Tuesday, March 25, 2025
AN ACT TO EXPAND WORKFORCE HOUSING BY PROVIDING CURRENT AND ONGOING FUNDING FOR THE HOUSING TRUST FUND.
Intro. by Smith, Murdock.
Status: Re-ref Com On Appropriations/Base Budget (Senate action) (Mar 26 2025)

Bill History:

S 750

Bill Summaries:

  • Bill S 750 (2025-2026)
    Summary date: Mar 27 2025 - View Summary

    Includes whereas clauses.

    Appropriates $30 million for 2025-26 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.

    Effective July 1, 2025.

    Courts/Judiciary, Court System, Development, Land Use and Housing, Property and Housing, Government, Budget/Appropriations, Tax
    APPROP, GS 105, GS 161
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