HB 364 North Carolina House · 2025-2026 Session

State Transportation Improvement Program (STIP) Grant Anticipation Notes.

This bill authorizes local governments to borrow money through "grant anticipation notes" to accelerate local transportation projects already identified for funding under the State Transportation Improvement Program (STIP). To utilize this, a local government must enter into an expedited project agreement with the Department of Transportation (DOT), outlining project details, costs, funding, and a repayment plan. These notes are special obligations, meaning they are repaid solely from the anticipated STIP funding, and the local government's general taxing power is not pledged. The DOT must ensure that any STIP changes do not delay the repayment of these notes, and both the DOT and the Department of the Treasurer are directed to establish rules for their implementation.
Bill status passed 3 of 5 stages cleared
Introduction
Mar 2025
Committee Review
May 2025
House Passage
May 2025
Senate Passage
Governor
Introduced Mar 11, 2025 Last action May 7, 2025
Maddy AI version diff · 3 comparisons

What changed between versions

Edition 2 Edition 3 · 4 edits
MODERATE
This bill revision updates the language and terminology related to State Transportation Improvement Program (STIP) projects, replacing references to 'State Transportation Improvement Program (STIP)' with 'State Transportation Improvement Program' and adding 'Strategic Prioritization Funding Plan for Transportation Investments' to clarify funding sources. The revision also reorganizes the bill's structure by adding a second committee substitute version and adjusting line numbers and formatting throughout the document.
Scope change
The bill's scope remains focused on authorizing local governments to borrow money for accelerating transportation projects identified for STIP funding, with no substantive change to the core eligibility or applicability criteria.
DEFINITION

Removed explicit 'State Transportation Improvement Program (STIP)' references in the bill title and section 1, replacing them with broader 'State Transportation Improvement Program' language and adding 'Strategic Prioritization Funding Plan for Transportation Investments' as a funding source reference.

TECHNICAL

Added 'Committee Substitute #2 Favorable 5/6/25' designation and renumbered sections from 2 to 3, indicating this is a revised version of the bill with updated committee markup.

Adjusted line numbers and formatting throughout the document, including changes to the header information and section numbering within the statutory text.

REQUIREMENT

Modified subsection (b1) language from 'exceeds the amount of funding identified for the STIP project' to 'exceeds the amount of funding identified for the identified project' to broaden the reference beyond just STIP projects.

Floor votes · House May 7, 2025

How they voted

10111
Passed · 9 other
Total votes 121
May 7, 2025
D Democratic46
30 Yea 10 Nay 6
65% Yea
I Independent2
2 Yea
100% Yea
R Republican73
69 Yea 1 Nay 3
94% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
23
Key actions
5
Committee
14
May 7, 2025
Committee
Ref To Com On Rules and Operations of the Senate
upper
May 7, 2025
Lower · Passed
Passed 3rd Reading
lower
May 6, 2025
Lower · Passed
Reptd Fav
lower
May 6, 2025
Committee
Re-ref Com On Rules, Calendar, and Operations of the House
lower
May 6, 2025
Lower · Passed
Reptd Fav Com Sub 2
lower
Apr 16, 2025
Committee
Re-ref Com On Finance
lower
Apr 16, 2025
Lower · Passed
Reptd Fav Com Substitute
lower
Apr 8, 2025
Committee
Re-ref Com On Transportation
lower
Apr 8, 2025
Lower · Passed
Reptd Fav
lower
Apr 7, 2025
Committee
Serial Referral To Rules, Calendar, and Operations of the House Added
lower
Apr 7, 2025
Committee
Serial Referral To Finance Added
lower
Apr 7, 2025
Committee
Serial Referral To Transportation Added
lower
Apr 7, 2025
Committee
Serial Referral To Rules, Calendar, and Operations of the House Stricken
lower
Apr 7, 2025
Committee
Serial Referral To Finance Stricken
lower
Mar 12, 2025
Committee
Ref to the Com on State and Local Government, if favorable, Finance, if favorable, Rules, Calendar, and Operations of the House
lower
Mar 11, 2025
Introduced
Filed
lower
3 primary · 4 co-sponsors

Sponsors