HB 154

Requires the NCInnovation Fund (NCInnovation) to transfer, as if it had been dissolved, (1) all funds, other than excluded amounts and interest earned on excluded amounts and (2) all assets acquired with State funds back to the State upon consulting with and upon the direction of, the State Controller. Directs the Controller to facilitate the return of those transferred funds and to deposit the funds into the General Fund. Specifies that the deposit of those funds into the General Fund is not a constitutional appropriation made by law. Requires the funds to remain unappropriated until a further appropriations act by the General Assembly. Sixty days after the act becomes law, repeals Article 76A of GS Chapter 143 (establishing NCInnovation as a way to provide grant funding and support services to public university applied researchers working on projects that have commercial applications).