Amends GS 158-7.1, which authorizes local governments to make appropriations for specified economic development activities and requires any appropriation or expenditure pursuant to the statute to be approved by the county or city governing body after a public hearing, as specified. Now specifies that the respective governing board's approval, after public hearing, is only required of appropriations or expenditures pursuant to subsection (b) of the statute, which enumerates specific authorized economic development activities.