A BILL TO BE ENTITLED
AN ACT to provide financial assistance to manufacturers in endangered manufacturing industries in this state to help them retain more jobs.
The General Assembly of North Carolina enacts:
SECTION 1.  The General Assembly finds that many of North Carolina's traditional manufacturing industries have declined in recent years due to stiff foreign competition and a changing domestic and global marketplace.  While the State aggressively pursues emerging opportunities in new and developing industries, the State also recognizes the importance of maintaining traditional manufacturing jobs in this State.
SECTION 2.  There is appropriated from the General Fund to the One North Carolina Fund created pursuant to G.S. 143B‑437.71 the sum of five hundred thousand dollars ($500,000) for the 2005‑2006 fiscal year and the sum of five hundred thousand dollars ($500,000) for the 2006‑2007 fiscal year.  Funds appropriated under this section shall be used to provide grants to existing businesses involved in the manufacture of furniture, textiles, or apparel only.  Notwithstanding the provisions of G.S. 143B‑437.72, a local match is not required for the disbursement of these funds.  In addition to the allowed uses of funds under G.S. 143B‑437.71, funds appropriated by this act may be used for worker training.
SECTION 3.  This act becomes effective July 1, 2005.