Contains whereas clauses.
Adds GS 160D-707 requiring local governments to allow residential development by right at a density and intensity described in all areas and districts zoned for commercial use. Clarifies that GS 160D-707 does not: (1) apply to areas zoned for industrial use or (2) supersede or diminish any applicable building code, fire code, or other general public health and safety regulations or other building design elements generally applicable to residential development. Applies to permit applications submitted on or after July 1, 2027.
Prevents local governments subject to GS 160D-702 from requiring or establishing a minimum size, placement, configuration, allocation, location, or number of parking spaces in its zoning or other development regulations, except as required by the Americans with Disabilities Act or accompanying federal regulations (currently prevents local zoning regulations from requiring parking spaces to be larger than 9 feet wide by 20 feet long). Applies to ordinances and regulations enacted or amended on or after July 1, 2027.
Adds GS 122A-5.16, directing the NC Housing Finance Agency (Agency) to establish the Municipal Housing Approval Acceleration Program (Program) to reimburse eligible local governments up to 125% for eligible documented costs incurred to accelerate the review of residential development applications, as described.  Tasks the Agency with developing performance reimbursement limits and eligibility guidelines, as described. Provides for a standardized reporting form, application, and annual review. Limits the Agency’s use of funds appropriated to it for the Program only as provided in GS 122A-5.16. Requires the Agency to submit quarterly reports to the specified NCGA committee and division on the seven matters described. Effective July 1, 2027.
Enacts Article 9, “Preservation of Single-Family Homeownership” to GS Chapter 75, making it unlawful in new GS 75-148 for a corporate buyer to purchase, acquire, or otherwise obtain an ownership interest in a single-family home in this State if, upon consummation of the transaction, that corporate buyer would own, lease-purchase, control, or hold a beneficial interest in more than 25 single-family homes in this State that are used primarily for rental, speculative, or other non-owner-occupancy purposes. Specifies that for purposes of GS 75-148 homes owned or controlled by affiliates are aggregated. Makes violation of GS 75-148 an unfair or deceptive act or practice affecting commerce. Sets forth six definitions in GS 75-146. Contains six findings that underlie the Article’s purpose to protect the single-family housing market from excessive concentration, preserve meaningful opportunities for owner-occupancy, deter the  treatment of single-family homes as a large-scale commodity class, and promote the broad distribution of the benefits of homeownership among the people of North Carolina in GS 75-147.
Provides for five categories of exemptions to the Article 9 in new GS 75-149, as follows:

A single-family home acquired by devise, descent, or other inheritance.
A single-family home acquired by a lender, loan servicer, or governmental entity through foreclosure, including those measures of foreclosure described, provided the acquiring party does not retain the home for rental or speculative purposes longer than 24 months after acquisition.
A single-family home acquired, in whole or majority part, by a nonprofit organization, community land trust, or public housing-related entity for the purpose of affordable homeownership, transitional housing, community stabilization, or other public or charitable housing purpose.
A builder or developer acquiring, constructing, or holding a single-family home in the ordinary course of development for initial sale to an owner-occupant, and not for long-term rental portfolio purposes.
An individual acting in the individual's own name for personal, family, or household purposes.

Provides for enforcement by the Attorney General in GS 75-150, and specifies that the remedies under new Article 9 are cumulative and do not limit any other rights or remedies available to under law.
Effective October 1, 2026 and applies to acquisitions occurring on or after that date.
Adds GS 122A-5.107, directing the Agency to establish and administer the Workforce Housing Preconstruction Revolving Loan Program (Loan Program) for the purpose of making revolving loans for preconstruction costs for workforce housing projects before developers obtain permanent, private financing. Instructs the Agency to establish guidelines for project equity requirements for applicants between 20% and thirty-five percent 35% based on market conditions in the county where the project is located. Limits the Agency’s use of funds appropriated to the North Carolina Housing Trust Fund (Fund) for the Loan Program only as provided in GS 122A-5.17. Defines preconstruction costs and workforce housing. Requires the Loan Program to comply with the following: (1) a million-dollar cap on any issued loan; (2) to reserve 80% of the loans for projects in counties designated as development tier one and tier two areas in GS 143B-437.08; and (3) to reserve 20% of the loans for projects in counties designated as development tier three areas. Provides for determination of development tiers per fiscal year. Requires the Agency to submit an annual report to the specified NCGA committees and division on the Loan Program before February 15 of each year.
Appropriates $120 million from the General Fund to the Agency for 2026-27 as a directed grant to establish the Program. Instructs the State Controller to transfer $40 million for 2026-27 from funds available in the Economic Development Project Reserve to the Fund for the Loan Program.
Effective when it becomes law, except as otherwise provided.

Statutes affected:
Filed: 160D-702