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H154 • 2025

Reclaim State Assets from NCInnovation.

Reclaim State Assets from NCInnovation.

Budget
Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
Warren, Blust, Howard, Johnson, Almond, Balkcom, Blackwell, Clampitt, Hastings, Kidwell, Loftis, McNeely, Moss, Schietzelt, Scott, Ward
Last action
2025-02-21
Official status
Ref to the Com on Appropriations, if favorable, Rules, Calendar, and Operations of the House
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Reclaim State Assets from NCInnovation.

Reclaim State Assets from NCInnovation.

What This Bill Does

  • Reclaim State Assets from NCInnovation.

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2025-02-21 House

    Ref to the Com on Appropriations, if favorable, Rules, Calendar, and Operations of the House

  2. 2025-02-21 House

    Passed 1st Reading

  3. 2025-02-18 House

    Filed

Official Summary Text

Reclaim State Assets from NCInnovation.

Current Bill Text

Read the full stored bill text 
GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2025
H 1
HOUSE BILL 154

Short Title: Reclaim State Assets from NCInnovation. (Public)
Sponsors: Representatives Warren, Blust, Howard, and Johnson (Primary Sponsors).
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
February 21, 2025
*H154-v-1*
A BILL TO BE ENTITLED 1
AN ACT TO DISSOLVE T HE RELATIONSHIP BETW EEN THE STATE AND 2
NCINNOVATION AND TO REQUIRE NCINNOVATION TO RETURN STATE FUNDS 3
AND ASSETS. 4
The General Assembly of North Carolina enacts: 5
SECTION 1. NCInnovation shall, as if the General Assembly, by this act, dissolved 6
it pursuant to Chapter 55A of the General Statutes, transfer back to the State, after consultation 7
with, and in conformity with direction received from, the State Controller, (i) all funds, other 8
than excluded amounts and interest earned on excluded amounts, and (ii) all assets acquired with 9
State funds. 10
SECTION 2. The State Controller shall facilitate the return of transferred funds and 11
assets from NCInnovation pursuant to Section 1 of this act and shall deposit such funds into the 12
General Fund. 13
SECTION 3. The transfer and deposit of funds in the General Fund pursuant to 14
Section 2 of this act does not constitute an "appropriation made by law," as that phrase is used in 15
Section 7(1) o f Article V of the North Carolina Constitution. The funds shall remain 16
unappropriated unless the General Assembly appropriates the funds in a subsequent act of the 17
General Assembly. 18
SECTION 4. Effective 60 days after this act becomes law, Article 76A of C hapter 19
143 of the General Statutes is repealed. 20
SECTION 5. This act is effective when it becomes law. 21