Affordable Housing Efficiency Grant Program.

This bill establishes the Affordable Housing Efficiency Grant Program in North Carolina to provide funding for energy efficiency and electric upgrades in affordable multifamily housing buildings. The program targets residential complexes with at least 50% of units reserved for low-income households that have been in service for at least 15 years, with a focus on projects located in underserved communities. Eligible buildings can receive grants of up to $0.75 per square foot to cover costs for measures such as heat pumps, electric water heaters, insulation, and related planning or health improvements, provided they maintain their affordability status. The Department of Environmental Quality will manage the program using $5 million in recurring state funds starting in the 2026-2027 fiscal year, while recipients must report annually on energy savings and other outcomes.