A BILL TO BE ENTITLED
AN ACT to change when public hearings are required for economic development expenditures.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 158‑7.1(c) reads as rewritten:
"(c)	Public Hearing. – Any appropriation or expenditure pursuant to subsection (b) of this section must be approved by the county or city governing body after a public hearing. The county or city shall publish notice of the public hearing at least 10 days before the hearing is held. If the appropriation or expenditure is for the acquisition of an interest in real property, the notice shall describe the interest to be acquired, the proposed acquisition cost of such interest, the governing body's intention to approve the acquisition, the source of funding for the acquisition and such other information needed to reasonably describe the acquisition. If the appropriation or expenditure is for the improvement of privately owned property by site preparation or by the extension of water and sewer lines to the property, the notice shall describe the improvements to be made, the proposed cost of making the improvements, the source of funding for the improvements, the public benefit to be derived from making the improvements, and any other information needed to reasonably describe the improvements and their purpose."
SECTION 2.  This act is effective when it becomes law and applies to appropriations and expenditures approved on or after that date.