Bill Summary for H 1153 (2021)

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Summary date: 

May 31 2022

Bill Information:

View NCGA Bill Details2021
House Bill 1153 (Public) Filed Thursday, May 26, 2022
AN ACT TO ESTABLISH THE CRITICAL TECHNOLOGIES MANUFACTURING FUND.
Intro. by Roberson, Saine, Szoka.

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Bill summary

Enacts Part 2L, Article 10, GS Chapter 143B, establishing the Critical Technologies Manufacturing Fund (Fund) within the Department of Commerce (Department) to provide grants to eligible businesses that manufacture critical technologies or components and materials essential to critical technologies. Defines eligible business as one that primarily engages in the manufacturing sector, as defined by specified sections of the North American Industry Classification System, that manufactures or agrees to manufacture critical technology in the state. Defines critical technology to include: a clean energy or clean transportation technology; cybersecurity technology; technology essential to supporting, maintaining, or constructing the domestic electrical grid, or for proper handling or management of recycling or reusing decommissioned renewable energy equipment; drinking water infrastructure; or any materials or components directly used in these listed technologies. Provides that funds of the Fund do not revert. Authorizes the Department to use up to 5% for administrative costs. Caps each grant at $200,000, and allows the Department to allocate up to 10% of the balance of the Fund each fiscal year for businesses located in the state for any other purpose the Department determines to be in alignment with the Fund's purpose, which is stated to include enhancing the state's economic competitiveness and promote the national security and energy independence from foreign energy sources. Includes four required grant conditions, including a provision establishing the number and duration of jobs the eligible business must create and maintain. Establishes two factors for prioritization of grant applications, including that the manufacturer is not manufacturing critical technologies but would do so using the grant received, or the applicant would use funds as a required cost-share for federal manufacturing grants. Authorizes reduction or termination of the grant due to noncompliance with the grant agreement or the Department's criteria for grantees, as specified. Requires the Department to provide notice of a grant deduction to the grantee. Establishes annual reporting requirements for the Department to report to the specified NCGA committee and division. Includes required content of the reports. Appropriates $4 million from the General Fund to the Department for 2022-23 for the Fund. Effective July 1, 2022.