SB 557

Requires all departments, authorities, other State and local entities, and entities receiving and using State funds for any other purpose that use the development tier designations determined pursuant to GS 143B-437.08 for any purpose or program, including, but not limited to, taxes, the NC Development Farmland Preservation Trust Fund, the Spay and Neuter Program, the Abandoned Manufactured Home Cleanup Grants Program, the State Wastewater Reserve, the State Drinking Water Reserve, the Public Safety Assistance Points Grant Program, Oral Health Preventive Services, Medication Assistance, Qualified Allocation Plan for Low Income Housing Tax Credits, to discontinue the use of such designations by no later than July 1, 2027. Requires those entities to develop criteria to achieve each program's objectives to bs used in place of the development tiers and report to the specified NCGA division. Exempts the Department of Commerce (Department), the corporation with which the Department contracts pursuant to GS 143B-437.01 (industrial development fund utility account), and other entities working with the Department where the Department, the corporation, and the entities are using the development tier designations for economic development purposes. Requires the Department of Agriculture and Consumer Services, Department of Environmental Quality, Department of Information Technology, Department of Health and Human Services, NC Housing Finance Agency, Department of Transportation, and the Department of Revenue to independently develop criteria designed to achieve each program’s objectives to be used in place of development tier designations and report by July 1, 2026, on any recommended legislation and on the developed criteria to the Fiscal Research Division and to the specified NCGA committees. Permits the entities to use the last development tier designations published by the Department until the earlier of developed replacement criteria or July 1, 2027. Applies to determinations of annual rankings for calendar year 2026 and beyond.