Carolina Housing Promise Act.
The Carolina Housing Promise Act aims to improve housing affordability and accessibility across North Carolina by empowering the state's Housing Finance Agency to issue up to $18 billion in bonds for residential projects. A key provision increases an existing excise tax on real estate transfers, directing half of the new revenue to fund a new Housing Innovation Office within the agency. This office will utilize the funds to support the construction and maintenance of affordable homes, develop innovative funding models, and provide technical assistance for housing solutions. The bill also updates the legal authority for the agency to issue various types of debt instruments to finance these housing initiatives.
Bill status
died
1 of 4 stages cleared
Introduction
Apr 2026
Committee Review
Floor Vote
Governor
Introduced Apr 30, 2026
Last action May 6, 2026
Maddy AI version diff · 1 comparison
What changed between versions
Filed
→
Edition 1
·
2 edits
MINOR
The bill was updated from a 'Filed' draft to 'Edition 1' with significant formatting changes, including the removal of the original bill number and the addition of a new bill identifier (S1055-v-1). Additionally, a specific line regarding the county's retention of tax proceeds was expanded to clarify that the 2% retention applies to the specific tax proceeds allocated at a 0.2% rate.
TECHNICAL
The bill number was changed from DRS45554-MCxf-249 to S1055-v-1, and the header layout was updated to reflect the official Edition 1 format.
FISCAL
A line describing the county's financial retention was expanded to explicitly state that the county may retain two percent (2%) of the tax proceeds specifically allocated at a rate of two-tenths of one percent (0.2%).
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
5
Key actions
0
Committee
2
May 6, 2026
Committee
Re-ref Com On Appropriations/Base Budget
upper
May 4, 2026
Committee
Ref To Com On Rules and Operations of the Senate
upper
Apr 30, 2026
Introduced
Filed
upper
1 primary · 5 co-sponsors
Sponsors
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