AN ACT to appropriate funds for the national institute of minority economic development to establish the center for entrepreneurship.

The General Assembly of North Carolina enacts:

SECTION 1.  There is appropriated from the General Fund to the Office of State Budget and Management the sum of two million two hundred thousand dollars ($2,200,000) in nonrecurring funds for the 2022‑2023 fiscal year to provide a directed grant to the National Institute of Minority Economic Development (Institute), a nonprofit organization, to renovate and reposition an office building owned by the Institute into the Center for Entrepreneurship, which will include affordable small business incubation space paired with skilled business development assistance, coaching, and access to Community Development Financial Institution (CDFI) lending resources.

SECTION 2.  This act becomes effective July 1, 2022.