House committee substitute to the 1st edition makes the following changes. Makes organizational changes and conforming changes to act’s long and short titles. 

Section 1.(a).

Amends Section 11.11 of SL 2022-74, as amended, concerning a competitive grant program for the development of megasites for major manufacturing opportunities, including the aerospace, automotive, clean energy, food processing, semiconductor, and life science industries, as follows. Modifies the infrastructure purpose of the Megasite Readiness Program (Program) so that it can be used on infrastructure projects, not just those that are public, to meet the needs of prospective employers for megasites. Replaces reference to “electrical utility lines” with “electric infrastructure". Expands the type of nonprofits that are eligible to partner with local governments under the Program to include 501(c)(12) organizations (certain local benevolent ditch or irrigation companies, telephone companies, or other like organizations). Requires other funds appropriated to the Program be used for the listed purposes set forth in the act (was, to be used to acquire megasites). Directs for both past and future appropriations of money for the Program to be transferred in full to the Economic Development Partnership of North Carolina (EDPNC) when the act becomes law and subsequently thereafter with each new appropriation. Makes conforming changes.

Section 1.(b).

Removes the act’s changes to Section 11.12 of SL 2023-134, concerning the Selectsite Readiness Program, and instead amends the Section as follows. Changes the trigger date for the specified unspent funds to be transferred to the NC Selectsite Fund (Fund) from June 30, 2023, to April 1, 2025. Now specifies that the appropriated $10 million for 2024-25 should also be used for assisting local governments or partnerships of local governments to: (1) acquire newly identified or existing selectsites; (2) analyze, plan, install, or upgrade the specified infrastructure as modified by the act (was, public infrastructure), including electric infrastructure (was, electrical utility lines) necessary to meet the needs of prospective employers for selectsites; and (3) fund the specified on-site preparations. Amends the purpose of the grant program to include identifying and evaluating up to 20 (was, 15) selectsites of less than 1,000 acres for preferred development and marketing; and includes supporting local governments or a partnership of local governments to analyze, plan, install, or upgrade infrastructure, no longer limiting this to public infrastructure. Specifies that further unspent funds must be used for engaging a national site selection firm through a competitive bid process to produce a supplemental report identifying and evaluating up to five and no less than three, additional selectsites from the initial disaster declared counties resulting from Tropical Storm Helene. Directs for both past and future appropriations of money for the Selectsite Program to be transferred in full to EDPNC when the act becomes law and subsequently thereafter with each new appropriation (previously included a stand-alone provision requiring that the act’s changes apply to appropriations and unencumbered funds in the NC Selectsite Fund on or after the act becomes law). Makes conforming changes.