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S998 • 2025

Housing Acceleration Fund.

Housing Acceleration Fund.

Housing
Passed Legislature

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

Sponsor
Bradley, Smith
Last action
2026-05-05
Official status
Re-ref Com On Appropriations/Base Budget
Effective date
2026-07-01

Plain English Breakdown

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

Housing Acceleration Fund.

Housing Acceleration Fund.

What This Bill Does

  • Housing Acceleration Fund.

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. 2026-05-05 Senate

    Re-ref Com On Appropriations/Base Budget

  2. 2026-05-05 Senate

    Withdrawn From Com

  3. 2026-05-04 Senate

    Ref To Com On Rules and Operations of the Senate

  4. 2026-05-04 Senate

    Passed 1st Reading

  5. 2026-04-30 Senate

    Filed

Official Summary Text

Housing Acceleration Fund.

Current Bill Text

Read the full stored bill text 
GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2025
S 1
SENATE BILL 998

Short Title: Housing Acceleration Fund. (Public)
Sponsors: Senator Bradley (Primary Sponsor).
Referred to: Rules and Operations of the Senate
May 4, 2026
*S998-v-1*
A BILL TO BE ENTITLED 1
AN ACT TO ASSIST AFF ORDABLE HOUSING DEVE LOPERS ACCESS LOW -COST 2
FINANCING TO BUILD N EW HOUSING UNITS AND PROVIDE FUNDS FOR 3
TRANSITIONAL HOUSING. 4
The General Assembly of North Carolina enacts: 5
SECTION 1.(a) Notwithstanding G.S. 115C-562.8 and any other provision of law 6
to the contrary, the State Education Assistance Authority shall transfer the following amounts of 7
the unencumbered, nonrecurring funds remaining at the end of the 2025 -2026 fiscal year that 8
would otherwise be carried fo rward in the 2026 -2027 fiscal year for the award of opportunity 9
scholarship grants pursuant to G.S. 115C-562.8(d)(2): 10
(1) The sum of ten million dollars ($10,000,000) to the Housing Finance Agency 11
for low-cost financing for developers to build new affordable housing units. 12
(2) The sum of forty million dollars ($40,000,000) to the Department of Health 13
and Human Services for its Transitions to Community Living program. 14
SECTION 1.(b) The funds transferred pursuant to subsection (a) of this section are 15
hereby appropriated to the Housing Finance Agency and the Department of Health and Human 16
Services, respectively, for the 2026-2027 fiscal year. Each agency may use three percent (3%) of 17
those funds for the administration of the programs identified in subsection (a) of this section. 18
SECTION 2. This act becomes effective on July 1, 2026. 19