Foundation Act: Building NC's Housing Future.

SB 736 creates a new Housing Innovation Office within North Carolina's Housing Finance Agency, funded by a permanent increase in the real estate transfer tax. The bill raises the tax rate on property sales over $500,000 from $1 per $500 to $1 per $400, directing the additional revenue ($5 million annually for 2025-2027) to this office. The office will use these funds for research, technical assistance, grants, and loans to support affordable housing construction, maintenance, and innovative building solutions. This directly affects homebuyers/sellers (through the tax increase) and aims to address the state's housing affordability crisis by expanding funding for housing projects.