AN ACT to appropriate funds for the outreach, education, technical assistance, and promotion of employee equity ownership plans by business owners in the state.

The General Assembly of North Carolina enacts:

SECTION 1.(a)  There is appropriated from the General Fund to the Department of Commerce (the Department) the sum of fifty thousand dollars ($50,000) in nonrecurring funds for each year of the 2023‑2025 fiscal biennium to be used for the following purposes:

(1)        To provide outreach and education to business owners on employee equity ownership plans.

(2)        To provide technical assistance to business owners to better understand the feasibility of implementing an employee equity ownership plan.

SECTION 1.(b)  The Department may work with any relevant nonprofit in the State that currently provides outreach, education, or technical assistance to business owners related to employee equity ownership plans.

SECTION 2.  Section 1 of this act becomes effective July 1, 2023. The remainder of this act is effective when it becomes law.