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Read. Follow. Verify.North Carolina establishes State Infrastructure Bank Board to finance public projects
Last action · May 7, 2025: Ref To Com On Rules and Operations of the Senate (Senate action)Sponsors: Robert Reives and 16 others
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What This Bill Would Do
North Carolina creates the State Infrastructure Bank Board within the Department of Commerce to administer federal, State, and private funds for transportation, water, and sewer projects starting July 1, 2025. The Board may provide loans and financial assistance to governmental units and toll authorities, subject to repayment conditions, security pledges, and approval.
Local governmental units and toll authorities can apply for infrastructure loans backed by facility revenues, municipal shares, or faith and credit, while existing bank funds and accounts transfer to the new Board on July 1, 2025.
- North Carolina previously maintained a state infrastructure bank under G.S. 136-18(12a), which is repealed and superseded by this act. context
Who It Would Affect
Groups the bill's text would affect if enacted, as described in the record. Being affected is not a position for or against it.
governmental units
Governmental units and toll authorities can apply for infrastructure loans and must execute debt instruments and pledge security for repayment.
toll authorities
Toll authorities are eligible to receive loans and financial assistance from the Board for infrastructure financing.
Key Facts
- Establishment and Location: Creates the State Infrastructure Bank Board within the Department of Commerce to function independently for administrative purposes.
- Board Membership: Consists of six voting members including the Secretary of Commerce, Secretary of Transportation, Secretary of Environmental Quality, State Treasurer, State Auditor, and State Budget Officer.
- Funding Scope: Authorizes the Board to receive and administer federal, State, and private funds for transportation, aviation, water, sewer, and other infrastructure projects.
- Loan Conditions: Permits the Board to provide loans to governmental units and toll authorities, requiring security such as facility revenues or municipal allocation shares.
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- Approval Requirements: Mandates that all proposed loans receive review and approval from both the Board and the Local Government Commission.
- Fund Transfer: Transfers the existing State infrastructure bank and all its held funds to the newly established State Infrastructure Bank Board.
- Effective Date: Takes effect on July 1, 2025, and applies to loan applications submitted on or after that date.
Frequently Asked Questions
What does the State Infrastructure Bank Board do?
Who serves on the State Infrastructure Bank Board?
Do local government loans need special approval?
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News Coverage
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Votes, people, money & the original sourceWhere This Stands
Currently passed chamber. The next step in the legislative lifecycle is Law.
Procedural history
14 actions- May 7, 2025SenateRef To Com On Rules and Operations of the Senate
- May 7, 2025SenatePassed 1st Reading
- May 7, 2025SenateSpecial Message Received From House
- May 7, 2025HouseSpecial Message Sent To Senate
- May 7, 2025HousePassed 3rd Reading
- May 7, 2025HousePassed 2nd Reading
Show 8 earlier actions
- May 6, 2025HousePlaced On Cal For 05/07/2025
- May 6, 2025HouseCal Pursuant Rule 36(b)
- May 6, 2025HouseReptd Fav
- May 6, 2025HouseRe-ref Com On Rules, Calendar, and Operations of the House
- May 6, 2025HouseReptd Fav Com Substitute
- Apr 14, 2025HouseRef to the Com on Commerce and Economic Development, if favorable, Rules, Calendar, and Operations of the House
- Apr 14, 2025HousePassed 1st Reading
- Apr 10, 2025HouseIntroducedFiled
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
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Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Centralization of Infrastructure Financing
The legislation dissolves the previous administrative structure under G.S. 136-18(12a) and consolidates infrastructure banking into a multi-agency board housed in the Department of Commerce.
Connected Entities
Sources
www.ncleg.gov
Analysis Score
0–100- Significance75How much this matters to a regular citizen
- Controversy15Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz25Current news / social attention level
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