T/C: Megasites Funding Uses.

SB 424 broadens how North Carolina can use its megasite funding by expanding eligibility for grants to local governments. It allows the state economic development agency to provide grants covering up to 85% of a megasite's purchase price or tax value (whichever is lower) for acquiring land. To qualify, sites must have binding purchase options, completed due diligence (including surveys and environmental reviews), and local governments must demonstrate their financial commitment. This directly affects local governments seeking to develop industrial sites for major employers in advanced manufacturing.