Amends SL 2023-134, Section 11.12 concerning the Selectsite Readiness Program as follows.
Mandates that funds appropriated to the North Carolina Selectsite Fund (Fund) be used for purposes consistent with Section 11.12(a) (was, specified that this applied to funds transferred from unspent allocations to nonprofit corporations contracting with the Department of Commerce and for purposes consistent with subdivision (e)(1)). Removes language that pertained to limiting the use of a nonrecurring fund allocation for 2024-25.
States the grant program should identify and evaluate selectsites of less than 1,000 acres for preferred development and marketing (was, limited to identification and evaluation of up to 15 selectsites). Adds participation in the performance of engineering design and permitting to the list of support provided to local governments or a partnership of local governments, including supporting them to fund permitting as part of the on-site preparation process. Adds geotechnical investigations and evaluations, environmental permitting and studies related to road and highway infrastructure to serve sites to the list of support provided to local governments or a partnership of local governments in conducting due diligence.
Changes some funding requirements for a part of the Economic Development Partnership of North Carolina (EDPNC) allocation in the Fund in the following ways: on a biennial basis, no more than $150,000  (was, unspent funds transferred pursuant to subsection (a) of 11.12) to be used for engaging a national site selection firm through a competitive bid process to produce a biennial report (was, a report) identifying 10 new selectsites (was, 15) for preferred development and marketing, of which 5 (was, 7) must be less than 500 acres and of which an additional 3 (was, 2) must be less than 100 acres. Adds requirement that geographic diversity be a priority consideration in new site selection beginning with the report due in 2026. Changes were also made to some of the requirements for funds appropriated for local government grants for selectsites in the following ways: (1) requires EDPNC to prioritize local government grants with the greatest potential to reduce the time for site readiness and reduce the risk of unforeseen conditions that could affect the site viability for manufacturing projects (was, advanced manufacturing projects) and (2) adds Phase I environmental, Threatened & Endangered Species studies to the list of basic due diligence requirements for selectsites before monies can be granted.
Act applies to appropriations to, and unencumbered funds in, the North Carolina Selectsite Fund on or after the date the act becomes law.