S382 - Disaster Relief-3/Budget/Various Law Changes. (SL 2024-57)
Session Year 2024
Overview: Section 2E.3 of S.L. 2024‑57 reallocates $20 million of the $23.52 million that originally went to Burke Partnership for Economic Development, Inc. (Burke Partnership) for megasite capital and acquisition costs in western North Carolina and allows Burke Partnership to instead use that $20 million for site development and preconstruction activities at the Burke Business Park in Burke County, subject to Burke Partnership entering into contracts with Burke County and the Department of Commerce that, among other things, provide for (i) acceptable uses of funds, (ii) fund recoupment requirements, (iii) clawback provisions, and (iv) fund repayment provisions.
This bill was vetoed by the Governor on November 26, 2024, and that veto was overridden by the General Assembly on December 11, 2024. This section became effective December 11, 2024.
Additional Information: