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Last Action

Ref to the Com on Appropriations, if favorable, Rules, Calendar, and Operations of the House2025-02-21

Vote Breakdown

No floor votes recorded.

Plain Language Summary

This bill would dissolve the state's relationship with NCInnovation and require the organization to return all state funds and assets back to North Carolina. The returned funds would be deposited into the state's General Fund and would remain unspent unless the General Assembly appropriates them in a future bill.

Arguments in Favor

• •Supporters argue this bill recovers state resources and gives the General Assembly direct control over how taxpayer money is used.
• •They contend that dissolving NCInnovation eliminates a middleman organization and allows the state to redirect these funds toward priorities determined through the legislative budget process rather than an independent entity.

Arguments Against

• •Opponents may argue that NCInnovation serves important economic development and innovation purposes that would be disrupted by dissolution.
• •They could contend that dismantling the organization wastes previous investments in its infrastructure and programs, and that returning assets to the General Fund doesn't guarantee they'll be reinvested in innovation and economic development efforts.