GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1999

S	1 

SENATE BILL 374*

Short Title:  Economic Development Funds.	(Public)

─────────────────────────────────────── 
Sponsors: Senators Shaw of Cumberland; Ballance, Dannelly, Jordan, Lucas, and Martin of Guilford.

─────────────────────────────────────── 
Referred to:  Appropriations/Base Budget.

─────────────────────────────────────── 

March 15, 1999

A BILL TO BE ENTITLED
AN ACT TO APPROPRIATE FUNDS TO THE DEPARTMENT OF COMMERCE FOR VARIOUS ECONOMIC DEVELOPMENT PROGRAMS.
The General Assembly of North Carolina enacts:
Section 1.  There is appropriated from the General Fund to the Department of Commerce the sum of eight million five hundred fifty thousand dollars ($8,550,000) for the 1999-2000 fiscal year and the sum of eight million five hundred thousand dollars ($8,500,000) for the 2000-2001 fiscal year to be allocated as follows:
(1)	$2,000,000 to North Carolina Institute of Minority Economic Development, Inc., to establish new centers to foster minority economic development within the State.
(2)	$550,000 to North Carolina Association of Community Development Corporations, Inc., to provide training, technical assistance, resource development, and support for local community development corporations statewide.
(3)	$2,000,000 to the Center for Community Self-Help to further its statewide program of lending for home ownership throughout North Carolina.
(4)	$4,000,000 to North Carolina Community Development Initiative, Inc., for additional space and to meet new demands for funding.
Section 2.  This act becomes effective July 1, 1999.