HB 603 North Carolina House · 2025-2026 Session

Workforce Housing Loans - Preconstruction Costs.

HB 603 creates a $40 million revolving loan fund within North Carolina's Housing Finance Agency to cover preconstruction costs (like land surveys, permits, and site work) for workforce housing projects. It directly affects developers building housing affordable to households earning 60%-120% of local median income, requiring them to contribute 20%-35% in project equity. The fund reserves 80% of loans for high-priority counties (tier 1-2) and 20% for other counties, with each loan capped at $1 million. The program requires annual reporting on loan details and becomes effective July 1, 2025.

Bill status in committee 1 of 4 stages cleared

Introduction

Mar 2025

Committee Review

Floor Vote

Governor

Introduced Mar 31, 2025 Last action Apr 1, 2025

Maddy AI version diff · 1 comparison

What changed between versions

Filed → Edition 1 · 4 edits

MODERATE

This bill update primarily involves formatting and administrative changes rather than substantive policy modifications. The main differences include updated sponsor information, revised bill numbering conventions, and reorganization of the document structure. No changes were made to funding amounts, eligibility criteria, or operational requirements.

TECHNICAL

Updated sponsor list to include four representatives (Reives, Alston, Dahle, and Lopez) with designation as Primary Sponsors and added reference to the General Assembly website for complete sponsor information.

Changed bill identifier from 'DRH40334-NOa-15' to 'H603-v-1' and updated page headers to reflect 'House Bill 603-First Edition' instead of the previous filing identifier.

Reorganized document structure by moving the development tier designation clause to a new section and adjusting line numbering and formatting throughout the bill text.

Updated filing date from March 31, 2025 to April 1, 2025 in the header section.

Floor votes

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Full legislative history

Actions timeline

Total actions

Key actions

Committee

Apr 1, 2025

Committee

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

lower

Mar 31, 2025

Introduced

Filed

lower

3 primary · 28 co-sponsors