North Carolina HB 1137: Appropriation to the Lake Norman Community Development Corporation.

Bill Text

GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2025
H 1
HOUSE BILL 1137

Short Title: Appropriation to the Lake Norman CDC. (Public)
Sponsors: Representative Helfrich.
For a complete list of sponsors, refer to the North Carolina General Assembly web site.
Referred to: Appropriations, if favorable, Rules, Calendar, and Operations of the House
May 4, 2026
*H1137-v-1*
A BILL TO BE ENTITLED 1
AN ACT TO APPROPRIATE FUNDS TO THE LAKE NORMAN COMMUNITY 2
DEVELOPMENT CORPORATION FOR THE SMITHVILLE REVITALIZATION PLAN 3
AND AFFORDABLE HOUSING. 4
The General Assembly of North Carolina enacts: 5
SECTION 1. There is appropriated from the General Fund to the Lake Norman 6
Community Development Corporation (Corporation) the sum of four million dollars 7
($4,000,000) in nonrecurring funds for the 2026-2027 fiscal year to be allocated as follows: 8
(1) Two million dollars ($2,000,000) for the implementation of the Smithville 9
Revitalization Plan, including property acquisition and development of 10
affordable homes. 11
(2) Two million dollars ($2,000,000) for the development of affordable housing 12
as deemed appropriate by the Corporation, but not to be used for the 13
Smithville Revitalization Plan. 14
SECTION 2. The Corporation may use up to fifteen percent (15%) of the funds 15
appropriated for administrative costs. 16
SECTION 3. This act becomes effective July 1, 2026. 17