Establishes the Tropical Storm Chantal Mitigation Fund within the Department of Public Safety, Division of Emergency Management (NCEM) to be maintained as a special fund. Permits NCEM to use up to 4% of funds for administration purposes. States that the purpose of the Fund is to provide mitigation buyouts, relocations, rehabilitations, reconstructions for eligible homeowners affected by Tropical Storm Chantal in the affected area (Alamance, Caswell, Chatham, Durham, Moore, Orange, and Person counties). Provides that funds are to be distributed in affected area on a per capita basis and that no person shall receive more than $500,000.

Appropriates $25 million from the General Fund to NCEM for the Tropical Storm Chantal Mitigation Fund. Provides that unused funds will revert to the Disaster Relief and Mitigation Fund on June 30, 2028.

Effective July 1, 2026.