Transportation Economic Development Funding.

HB 752 establishes two new funds to support transportation infrastructure: a $50 million Rail Fund for railroad upgrades, connections, and equipment, and an Airport Fund for airport capital improvements and flight incentives. The Rail Fund prioritizes projects that boost economic growth, with 60% of annual allocations reserved for matching federal grants and 30% for planning. The Airport Fund limits 80% of funds to capital projects (like runway upgrades), 17% to attract strategic flights, and up to 20% to safety improvements. Both funds require competitive allocation based on projected job creation and economic impact, with annual reports to lawmakers. This bill directly affects rail operators, airports, and industries relying on transportation networks across North Carolina.