North Carolina legislation · 2025-2026 Session
North Carolina S998: Housing Acceleration Fund.
Status: Introduced, May 5, 2026
What the bill says
An act to assist affordable housing developers access low-cost financing to build new housing units and provide funds for transitional housing.
From the introduced text:
A BILL TO BE ENTITLED AN ACT TO ASSIST AFFORDABLE HOUSING DEVELOPERS ACCESS LOW-COST FINANCING TO BUILD NEW HOUSING UNITS AND PROVIDE FUNDS FOR TRANSITIONAL HOUSING. The General Assembly of North Carolina enacts: SECTION 1.(a) Notwithstanding G.S. 115C-562.8 and any other provision of law to the contrary, the State Education Assistance Authority shall transfer the following amounts of the unencumbered, nonrecurring funds remaining at the end of the 2025-2026 fiscal year that would otherwise be carried forward in the 2026-2027 fiscal year for the award of opportunity scholarship grants pursuant to G.S. 115C-562.8(d)(2): (1) The sum of ten million dollars ($10,000,000) to the Housing Finance Agency for low-cost financing for developers to build new affordable housing units. (2) The sum of forty million dollars ($40,000,000) to the Department of Health and Human Services for its Transitions to Community Living program. SECTION 1.(b) The funds transferred pursuant to subsection (a) of this section are hereby appropriated to the Housing Finance Agency and the Department of Health and Human Services, respectively, for the 2026-2027 fiscal year. Each agency may use three percent (3%) of those funds for the administration of the programs identified in subsection (a) of this section. SECTION 2. This act becomes effective on July 1, 2026. *DRS45538-NSa-8*
Sponsors
- Bradley, Woodson (D, 42) · primary sponsor
- Smith, Kandie D. (D, 5)
Latest actions
- : Re-ref Com On Appropriations/Base Budget
- : Withdrawn From Com
- : Ref To Com On Rules and Operations of the Senate
- : Passed 1st Reading
- : Filed
Subjects: EDUCATION, DHHS, AUTHORITIES, FUNDS & ACCOUNTS, EDUCATION ASSISTANCE AUTHORITY, PUBLIC, HOUSING, HOUSING FINANCE AGENCY
Common questions
- What is S998?
- S998 is a bill in the North Carolina Legislature (2025-2026 Session): Housing Acceleration Fund.
- What does S998 do?
- In its own words: An act to assist affordable housing developers access low-cost financing to build new housing units and provide funds for transitional housing.
- What is the status of S998?
- Introduced as of May 5, 2026. Latest action: Re-ref Com On Appropriations/Base Budget (May 5, 2026).
- Who sponsored S998?
- Bradley, Woodson (D, 42), with 1 co-sponsor.
- Where is the official record for S998?
- On the North Carolina Legislature website: https://www.ncleg.gov/BillLookUp/2025/S998
Source: official North Carolina record. Tracked by Delilah, AI for legislation across all 50 states and Congress.