AN ACT tO enact the framework for upgrading technology, utilities, resiliency, and economies north carolina infrastructure act; To ESTABLISH THE NORTH CAROLINA INFRASTRUCTURE INVESTMENT COMMISSION; AND TO REQUIRE THE COMMISSION TO DEVELOP AND SUBMIT A COMPREHENSIVE STATEWIDE INFRASTRUCTURE INVESTMENT plan.

The General Assembly of North Carolina enacts:

SECTION 1.  Title. – This act shall be known as the Framework for Upgrading Technology, Utilities, Resiliency, and Economies (FUTURE) NC Infrastructure Act.

SECTION 2.  Legislative Findings and Purpose. – The General Assembly finds that North Carolina's infrastructure systems are essential to public health, safety, economic growth, and quality of life. The State faces increasing demands from population growth, aging infrastructure, and exposure to severe weather events. Existing funding systems, while effective within their domains, operate independently and do not provide a unified, long‑term statewide strategy. The purpose of this act is to establish a commission to develop a comprehensive, forward‑looking, and flexible infrastructure investment framework that emphasizes preservation, resiliency, and strategic growth over a 20‑year horizon.

SECTION 3.  Establishment of the Commission. – The North Carolina Infrastructure Investment Commission (Commission) is established. All of the following shall apply:

(1)        The Commission shall consist of 10 members appointed as follows:

a.         Two members appointed by the President Pro Tempore of the Senate.

b.         Two members appointed by the Speaker of the House of Representatives.

c.         Two members appointed by the Governor.

d.         Four members appointed by the State Treasurer.

(2)        Initial members shall be appointed no later than 60 days after the effective date of this act. Vacancies shall be filled by the original appointing authority for the remainder of the unexpired term.

(3)        The State Treasurer shall serve as the chair of the Commission and shall convene the first meeting of the Commission no later than 30 days after a quorum has been appointed. The Commission shall have a quorum when six members are present, and acts of the Commission shall require a vote; a majority of members must be present and voting.

(4)        The Commission shall be administratively housed within the Department of State Treasurer.

(5)        Members may receive per diem and travel reimbursement as provided in G.S. 93B‑5. The Commission shall be subject to Article 33C of Chapter 143 and Chapter 132 of the North Carolina General Statutes.

SECTION 4.  Duties of the Commission. – The Commission shall develop and submit a comprehensive statewide infrastructure investment plan. The Commission shall not be bound to any specific formula or weighting but shall evaluate and recommend an approach that best achieves statewide objectives. The plan shall reflect a long‑term vision and may include the following:

(1)        A 20‑year strategic framework for infrastructure investment, including identification of major needs across transportation, water, wastewater, stormwater, resiliency, and other critical systems.

(2)        A general policy approach that emphasizes maintenance, repair, consolidation, regionalization, and modernization of existing assets while also addressing strategic expansion needs.

(3)        Potential allocation approaches that distinguish between preservation, growth, and resiliency investments, without requiring fixed percentages.

(4)        Development of a prioritization framework that may include consideration of any of the following:

a.         Infrastructure condition and risk of failure.

b.         Public health and safety impacts.

c.         Economic and workforce impacts.

d.         System resiliency and vulnerability.

e.         Project readiness and local participation.

f.          Regional equity and geographic distribution.

(5)        Identification of opportunities to coordinate and align with existing State programs, including transportation, water infrastructure, and capital funding systems, without disrupting existing statutory frameworks.

(6)        Exploration of funding strategies, including the following:

a.         State appropriations.

b.         Federal funding opportunities and grant programs.

c.         Loan and revolving fund structures.

d.         Public‑private partnerships where appropriate.

e.         Braiding and blending of funding sources to maximize impact and efficiency.

f.          Debt issuance.

(7)        Recommendations for governance, accountability, transparency, and performance measurement.

(8)        Consideration of best practices from other states and national models.

SECTION 5.  Submission of Plan. – The Commission shall submit an interim plan to the President Pro Tempore of the Senate, Speaker of the House of Representatives, Joint Legislative Commission on Governmental Operations, Joint Legislative Transportation Oversight Committee, House Committee on Appropriations, Capital and Information Technology, House Appropriations Committee on Transportation, Senate Committee on Appropriations/Base Budget, Senate Committee on Department of Transportation, and Governor within 12 months of its first meeting. The Commission shall submit a final plan to these entities by March 31, 2028. No portion of the plan shall be implemented by any State agency unless authorized to do so through an act of the General Assembly. Upon the submission of the plan, the Commission shall expire and all records of the Commission shall be transferred to the Department of State Treasurer for retention in accordance with applicable records retention schedules.

SECTION 6.  Staff and Support. – The Department of State Treasurer shall provide administrative support to the Commission. State agencies shall cooperate with the Commission upon request for information that supports the development of the plan.

SECTION 7.  Appropriation. – Effective July 1, 2026, there is appropriated from the General Fund to the Department of State Treasurer the sum of three hundred thousand dollars ($300,000) in nonrecurring funds for the 2026‑2027 fiscal year for administration of the Commission.

SECTION 8.  Except as otherwise provided, this act is effective when it becomes law.