Bill Summary for H 1082 (2021-2022)
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AN ACT TO ESTABLISH A JOINT LEGISLATIVE STUDY COMMISSION TO STUDY THE FEASIBILITY OF ESTABLISHING A STATE INFRASTRUCTURE BANK TO SUSTAINABLY FINANCE INFRASTRUCTURE PROJECTS AND DRIVE ECONOMIC GROWTH IN THE STATE.Intro. by Harris, Howard, Lofton, Cooper-Suggs.
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Establishes the 17-member Commission to Study the Feasibility of Establishing a State Infrastructure Bank (Commission) to study how the creation of such a bank could strengthen economic and community development, provide financial resources for infrastructure projects, and leverage State, federal, and private resources to address the need for access to sustainable financial assistance for projects that will contribute to economic growth, job creation, and support of local communities in the State. Sets out membership requirements. Provides for filling vacancies, establishing a quorum, meeting space, staffing, and compensation. Requires the Commission to hold at least five public meetings in distinct geographic regions of the State. Sets out 11 issues the Commission must study, at a minimum, including: providing financing for infrastructure related to housing development, public works infrastructure, educational infrastructure, student loans, and community quality of life projects; providing capital for continued expansion of the State's transportation, environmental, energy, and telecommunications infrastructure; examine various administrative and operational structures for organizing a State Infrastructure Bank; and the extent to which the State Infrastructure Bank should be allowed to compete with banking establishments operating in North Carolina. Allows the Commission to make an interim report to the 2022 Regular Session of the NCGA prior to its convening and requires a final report by the end of that session.
Effective July 1, 2022, appropriates $50,000 in nonrecurring funds for 2022-23 from the General Fund to the Legislative Services Commission to offset expenses incurred in connection with the operation and support of the Commission.