North Carolina legislation · 2025-2026 Session
North Carolina S1055: Carolina Housing Promise Act.
Status: Introduced, May 6, 2026
What the bill says
An act to comprehensively address housing affordability and accessibility issues and needs in the state.
From the introduced text:
A BILL TO BE ENTITLED AN ACT TO COMPREHENSIVELY ADDRESS HOUSING AFFORDABILITY AND ACCESSIBILITY ISSUES AND NEEDS IN THE STATE. The General Assembly of North Carolina enacts: PART I. HOUSING FINANCE AGENCY ENHANCEMENT SECTION 1.1.(a) G.S. 122A-8 reads as rewritten: "§ 122A-8. Bonds and notes. The Agency is hereby authorized to provide for the issuance, at one time or from time to time, of bonds and notes of the Agency to carry out and effectuate its corporate purposes. The Agency also is hereby authorized to provide for the issuance, at one time or from time to time of (i) bond anticipation notes in anticipation of the issuance of such bonds and (ii) construction loan notes to finance the making or purchase of mortgage loans to sponsors of residential housing for the construction, rehabilitation or improvement of residential housing. The total amount of bonds, bond anticipation notes, and construction loan notes outstanding at any one time shall not exceed twelve billion dollars ($12,000,000,000) eighteen billion dollars ($18,000,000,000) excluding therefrom any bond anticipation notes for the payment of which bonds have been issued. The principal of and the interest on such bonds or notes shall be payable solely from the funds herein provided for such payment. Any such notes may be made payable from the proceeds of bonds or renewal notes or, …
Sponsors
- Garrett, Michael (D, 27) · primary sponsor
- Bradley, Woodson (D, 42) · primary sponsor
- Batch, Sydney (D, 17)
- Salvador, DeAndrea (D, 39)
- Smith, Kandie D. (D, 5)
- Waddell, Joyce (D, 40)
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- : Withdrawn From Com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: PROPERTY, SALES & CONVEYANCES, COUNCILS, RURAL DEVELOPMENT, BUDGETING, DEEDS, TAXES, EXCISE, RENTALS & LEASING
Common questions
- What is S1055?
- S1055 is a bill in the North Carolina Legislature (2025-2026 Session): Carolina Housing Promise Act.
- What does S1055 do?
- In its own words: An act to comprehensively address housing affordability and accessibility issues and needs in the state.
- What is the status of S1055?
- Introduced as of May 6, 2026. Latest action: Re-ref Com On Appropriations/Base Budget (May 6, 2026).
- Who sponsored S1055?
- Garrett, Michael (D, 27), with 5 co-sponsors.
- Where is the official record for S1055?
- On the North Carolina Legislature website: https://www.ncleg.gov/BillLookUp/2025/S1055
Source: official North Carolina record. Tracked by Delilah, AI for legislation across all 50 states and Congress.