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SB 473 North Carolina Senate · 2025-2026 Session

Capital for Communities Act.

SB 473 creates the Capital for Communities Special Fund, a dedicated state fund that will receive 3.5% of certain investment earnings (when quarterly returns exceed 7%) from state funds managed by the Treasurer. The fund will provide grants for economic development projects in North Carolina, specifically targeting affordable housing, childcare centers, healthcare facilities addressing shortages, medical research, workforce development, living-wage jobs, and nonprofit education facilities. These grants must directly support community-based initiatives meeting the specified criteria. The bill establishes clear eligibility rules for fund usage but does not detail application processes or allocation priorities.
Issues: ✓ Budget & TaxesSupports Budget & TaxesCreates dedicated fund from state investment earnings (3.5%) to fund affordable housing, healthcare, and workforce programs, increasing state funding allocation for public services.95% confidence ✓ EducationSupports EducationBill allocates grants specifically for 'nonprofit education facilities' through a dedicated fund, directly funding educational infrastructure and programs.95% confidence ✓ HealthcareSupports HealthcareBill specifically targets healthcare facilities addressing shortages and medical research for grants from the dedicated fund, directly advancing healthcare infrastructure and services.95% confidence ✓ HousingSupports HousingSB 473 creates a dedicated fund specifically targeting affordable housing projects through state grants, directly advancing housing affordability as a primary focus.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentDirectly funds workforce development and living-wage jobs, advancing employment standards per bill summary and subjects list.95% confidence
Bill status died 1 of 4 stages cleared
Introduction
Mar 2025
Committee Review
Floor Vote
Governor
Introduced Mar 24, 2025 Last action Mar 25, 2025
Maddy AI version diff · 1 comparison

What changed between versions

Filed → Edition 1 · 3 edits
MINOR
The primary changes to SB 473 are technical and formatting updates rather than substantive policy modifications. The bill's title, sponsor information, and internal document identifiers have been updated to reflect the official Senate Bill number and first edition status. No changes were made to the bill's core provisions regarding the Capital for Communities Special Fund, eligibility criteria, funding mechanisms, or operational requirements.
TECHNICAL

Updated document identifiers from internal tracking numbers (DRS45146-MRap-86) to official Senate Bill 473-First Edition designation

Added official referral information showing the bill was referred to Rules and Operations of the Senate on March 25, 2025

Removed blank line after 'Referred to:' section header

Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
5
Key actions
0
Committee
2
Mar 25, 2025
Committee
Re-ref Com On Appropriations/Base Budget
upper
Mar 25, 2025
Committee
Ref To Com On Rules and Operations of the Senate
upper
Mar 24, 2025
Introduced
Filed
upper
1 primary · 5 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Sophia Chitlik
Sophia Chitlik
DDemocratic
NC
22
Co
Photo of Caleb Theodros
Caleb Theodros
DDemocratic
NC
41
Co
Photo of DeAndrea Salvador
DeAndrea Salvador
DDemocratic
NC
39
Co
Photo of Joyce Waddell
Joyce Waddell
DDemocratic
NC
40
Co
Photo of Michael Garrett
Michael Garrett
DDemocratic
NC
27
Co
Photo of Mujtaba Mohammed
Mujtaba Mohammed
DDemocratic
NC
38