H47 - Disaster Recovery Act of 2025 - Part I. (SL 2025-2)

Overview: Subpart II-B of S.L. 2025-2 (House Bill 47) does the following:

• Repeals the Office of Recovery and Resiliency's (NCORR) statutory authority effective October 1, 2026.
• Transfers $121 million from the Savings Reserve, $96 million from the State Emergency Response and Disaster Relief Fund, and the unexpended amount from the Hurricane Florence Disaster Recovery Fund to NCORR for completion of the homeowner recovery program for Hurricanes Matthew and Florence. Funds revert on October 1, 2026.
• Sets certain benchmarks for NCORR to meet regarding the issuance of notices to proceed and the total amount of unawarded projects by July 1, 2025, excluding withdrawn or ineligible projects, with requirements for NCORR to report on these benchmarks to the Joint Legislative Commission on Governmental Operations and the Fiscal Research Division.
• Mandates a monthly reporting requirement, which began August 1, 2025, to continue to oversee NCORR homeowner recovery programs for Hurricanes Matthew and Florence, until NCORR is dissolved on October 1, 2026.
• Changes the State Auditor's reporting requirement of NCORR's use of funds to support homeowner recovery projects under Rebuild NC from quarterly to monthly.

This section became effective March 19, 2025.