A BILL TO BE ENTITLED
AN ACT to appropriate funds to carolina small business development fund to increase access to lending and business services for small businesses in the state.
The General Assembly of North Carolina enacts:
SECTION 1.  Notwithstanding G.S. 143C‑5‑2, there is appropriated from the General Fund to Carolina Small Business Development Fund, a nonprofit corporation, the sum of three million dollars ($3,000,000) in recurring funds for the 2019‑2020 fiscal year to be used to increase small business lending and business services in this State.
SECTION 2.  Carolina Small Business Development Fund shall do the following for each year that State funds are expended:
(1)	By September 1 of each year, and more frequently as requested, report to the Joint Legislative Oversight Committee on Agriculture and Natural and Economic Resources and the Fiscal Research Division on prior State fiscal year program activities, objectives, and accomplishments and prior State fiscal year itemized expenditures and fund sources.
(2)	Provide to the Joint Legislative Oversight Committee on Agriculture and Natural and Economic Resources and the Fiscal Research Division a copy of the entity's annual audited financial statement within 30 days of issuance of the statement.
SECTION 3.  This act becomes effective July 1, 2019.