Western NC Support; Expand Comm. Eco. Dev.

SB 542 allocates $20.3 million in one-time funding and $1 million annually to support Western North Carolina recovery and economic development. It provides $10 million specifically for long-term housing recovery for residents impacted by Hurricane Helene, $5 million to Community Development Corporations (CDCs), $300,000 for women’s business centers, and $5 million for broader economic development programs. The bill also includes $1 million in recurring funds to assist with ongoing housing recovery, match federal disaster funds, and support community services statewide. This legislation directly affects Western NC residents recovering from Hurricane Helene, CDCs, and women’s business centers in Western NC, the Triad, and Piedmont regions.