Bill Summary for S 998 (2025-2026)
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Summary date:
May 1 2026
Bill Information:
| View NCGA Bill Details | 2025-2026 Session |
AN ACT TO ASSIST AFFORDABLE HOUSING DEVELOPERS ACCESS LOW-COST FINANCING TO BUILD NEW HOUSING UNITS AND PROVIDE FUNDS FOR TRANSITIONAL HOUSING.Intro. by Bradley.
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Bill summary
Requires the State Education Assistance Authority to transfer the following amounts of the unencumbered, nonrecurring funds remaining at the end of 2025-26 that would otherwise be carried forward in 2026-27 for the award of opportunity scholarship grants pursuant to GS 115C-562.8(d)(2): $10 million to the Housing Finance Agency (HFA) for low-cost financing for developers to build new affordable housing units and $40 million to the Department of Health and Human Services (DHHS) for its Transitions to Community Living program. Appropriates those transferred funds to HFA and DHHS for 2026-27 and permits each agency to use 3% of those funds for administration of the identified programs.
Effective July 1, 2026.