North Carolina 2025 Session Status: In Committee Bipartisan · 8 R · 3 D cosponsors

SB 172 — STIP Grant Anticipation Notes.

Last action — Passed 1st Reading

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the Senate. Introduced February 25, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the Senate.

Prognosis

Advancing 42% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • In Committee

    Current position in the legislative process.

  • 11 sponsors

    2 primary, 9 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (8 R · 3 D) — cross-party backing.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

What changed in the latest version

14 added · 15 removed

Plain-language change summary

The updated version of Senate Bill 172 includes some adjustments that refine how local governments can handle financing, specifically regarding project funding and note issuance. Notably, the language around renewal options for financial agreements was clarified, removing potential ambiguities. This change is significant as it helps ensure that local governments have a clearer framework when seeking and managing funding, ultimately aiming for smoother implementation of projects that benefit the community.

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FILED SENATE GENERAL ASSEMBLY OF NORTH CAROLINA Feb 25, 2025 S.B.
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2025 S 1 SENATE BILL 172 Short Title:
172 SESSION 2025 PRINCIPAL CLERK S D SENATE BILL DRS45091-MCf-106A Short Title:
A BILL TO BE ENTITLED AN ACT TO AUTHORIZE A LOCAL GOVERNMENT TO BORROW MONEY FOR THE PURPOSE OF ACCELERATING A LOCAL TRANSPORTATION PROJECT THAT IS IDENTIFIED FOR FUNDING UNDER THE STATE TRANSPORTATION IMPROVEMENT PROGRAM (STIP).
Rules and Operations of the Senate February 26, 2025 A BILL TO BE ENTITLED AN ACT TO AUTHORIZE A LOCAL GOVERNMENT TO BORROW MONEY FOR THE PURPOSE OF ACCELERATING A LOCAL TRANSPORTATION PROJECT THAT IS IDENTIFIED FOR FUNDING UNDER THE STATE TRANSPORTATION IMPROVEMENT PROGRAM (STIP).
Grant anticipation notes under this subsection shall mature not later than 12 monthsaftertheestimatedcompletiondateofsuchcapitalprojectasdeterminedbythegoverning body of the unit of local government and may be renewed from time to time, but no renewal shall mature later than 12 months after the estimated completion date of such capital project.
Grant anticipation notes under this subsection shall mature not later than 12 monthsaftertheestimatedcompletiondateofsuchcapitalprojectasdeterminedbythegoverning body of the unit of local government and maybe renewed from time to time, but no renewal shall mature later than 12 months after the estimated completion date of such capital project.
(a1) A unit of local government is authorized to borrow money for the purpose of paying appropriations made for a capital project identified for funding as a State Transportation Improvement (STI) regional impact or division need project under Article 14B of Chapter 136 of the General Statutes (STIP project) in anticipation of the receipt of such funding from the State or the United States or any agencies of either and to issue its negotiable notes in evidence thereof.
(a1) A unit of local government is authorized to borrow money for the purpose of paying appropriations made for a capital project identified for funding as a State Transportation Improvement (STI) regional impact or division need project under Article 14B of Chapter 136 of the General Statutes (STIP project) in anticipation of the receipt of such fundingfrom the State or the United States or anyagencies of either and to issue its negotiable notes in evidence thereof.
*DRS45091-MCf-106A* General Assembly Of North Carolina Session 2025 (5) Funding expected, source of funding, revenue forecasts that support funding assumptions, and expected final installment funding date.
*S172-v-1* General Assembly Of North Carolina Session 2025 (5) Funding expected, source of funding, revenue forecasts that support funding assumptions, and expected final installment funding date.
(7) Anyotherterms theDepartment ofTransportation deems necessary to comply with federal law and to ensure (i) any State funds transferred to the unit of local government for repayment of a note under this subsection will not exceed the local portion of the nonfederal share of the cost of the project and (ii) that State funds either flow back to the unit of local government for repayment of the note or are used directly to repay the note.
(7) Anyother terms theDepartment ofTransportation deems necessaryto comply with federal law and to ensure (i) any State funds transferred to the unit of local government for repayment of a note under this subsection will not exceed the local portion of the nonfederal share of the cost of the project and (ii) that State funds either flow back to the unit of local government for repayment of the note or are used directly to repay the note.
(b) No Except as provided in subsection (b1) of this section, no grant anticipation note under subsection (a) of this section may be issued if the amount thereof, together with the amount of all other notes authorized or issued in anticipation of the same grant commitment, shall exceed exceeds ninety percent (90%) of the unpaid amount of said grant commitment.
(b) No Except as provided in subsection (b1) of this section, no grant anticipation note under subsection (a) of this section maybe issued if the amount thereof, together with the amount of all other notes authorized or issued in anticipation of the same grant commitment, shall exceed exceeds ninety percent (90%) of the unpaid amount of said grant commitment.
The Department of the Treasurer, in consultation Page 2 DRS45091-MCf-106A General Assembly Of North Carolina Session 2025 with the Department of Transportation, shall adopt rules as necessary that are consistent with the purposes of Section 1 of this act and Article 4 of Chapter 159 of the General Statutes.
The Department of the Treasurer, in consultation Page 2 Senate Bill 172-First Edition General Assembly Of North Carolina Session 2025 with the Department of Transportation, shall adopt rules as necessary that are consistent with the purposes of Section 1 of this act and Article 4 of Chapter 159 of the General Statutes.
DRS45091-MCf-106A Page 3
Senate Bill 172-First Edition Page 3
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How this bill changes current law

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Compared against the N.C. General Statutes as published AI-generated reading aid — verify against the official bill.

This bill authorizes local governments to borrow money for specific transportation projects identified under the State Transportation Improvement Program through grant anticipation notes, modifying existing provisions for such borrowing.

  • G.S. 159-171

    A unit of local government is authorized to borrow money for the purpose of paying appropriations made for a capital project in anticipation of the receipt of moneys from grant commitments for such capital project from the State or the United States or any agencies of either, and to issue its negotiable notes in evidence thereof. → Except as provided in subsection (a1) of this section, a unit of local government is authorized to borrow money for the purpose of paying appropriations made for a capital project in anticipation of the receipt of moneys from grant commitments for such capital project from the State or the United States or any agencies of either, and to issue its negotiable notes in evidence thereof.

    This change specifies that there is an exception in the statute for local governments borrowing money under certain conditions.

  • G.S. 159-171

    A unit of local government is authorized to borrow money for the purpose of paying appropriations made for a capital project identified for funding as a State Transportation Improvement (STI) regional impact or division need project under Article 14B of Chapter 136 of the General Statutes (STIP project) in anticipation of the receipt of such funding from the State or the United States or any agencies of either and to issue its negotiable notes in evidence thereof.

    This addition allows local governments to borrow for projects specifically identified under the State Transportation Improvement Program.

  • G.S. 159-171

    Grant anticipation notes under this subsection shall mature not later than 12 months after the estimated completion date of such capital project as determined by the governing body of the unit of local government and may be renewed from time to time, but no renewal shall mature later than 12 months after the estimated completion date of such capital project. → Grant anticipation notes under this subsection shall mature no later than 12 months after the first day of the calendar year following the calendar year in which the STIP project is scheduled to be completed. Renewal of grant anticipation notes under this subsection is not allowed.

    This change modifies the maturity date of grant anticipation notes for STIP projects and prohibits renewals.

  • G.S. 159-171

    No grant anticipation note under subsection (a1) of this section may be issued if the amount thereof, together with the amount of all other notes authorized or issued in anticipation of the same grant commitment, exceeds the amount of funding identified for the STIP project.

    This added restriction ensures that grant anticipation notes do not exceed the identified funding for STIP projects.

  • G.S. 159-171

    No grant anticipation note may be issued if the amount thereof, together with the amount of all other notes authorized or issued in anticipation of the same grant commitment, shall exceed ninety percent (90%) of the unpaid amount of said grant commitment. → Except as provided in subsection (b1) of this section, no grant anticipation note under subsection (a) of this section may be issued if the amount thereof, together with the amount of all other notes authorized or issued in anticipation of the same grant commitment, exceeds ninety percent (90%) of the unpaid amount of said grant commitment.

    This clarifies that the 90% limit applies to notes under subsection (a) but creates a different limitation for notes issued under subsection (a1).

  • G.S. 136-189.11

    (f1) Expedited Project Funded by Local Government. – The Department shall ensure any amendment or modification to the State Transportation Improvement Program will not cause a delay in the repayment of a grant anticipation note issued to a local government in accordance with G.S. 159-171(a1) and (b1).

    This new subsection ensures that amendments to the transportation improvement program will not impact the repayment schedule of notes issued under the new provisions for local governments.

Action History

  1. Passed 1st Reading

  2. Ref To Com On Rules and Operations of the Senate

  3. Filed

Sponsors

Sponsorship breakdown

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2 sponsors · 9 co-sponsors · 168 not signed on

Sponsors (2)

Co-sponsors (9)

Not signed on (168)

168 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance transportation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors SB 172?
SB 172 is sponsored by Caleb Theodros (Democratic), Norman W. Sanderson (Republican), DeAndrea Salvador (Democratic), Mujtaba A. Mohammed (Democratic), Timothy D. Moffitt (Republican), Bobby Hanig (Republican), Danny Earl Britt, Jr. (Republican), Benton G. Sawrey (Republican), Michael A. Lazzara (Republican), Vickie Sawyer (Republican), and Todd Johnson (Republican).
What is the current status of SB 172?
This bill is in committee in the Senate. Introduced February 25, 2025. It must pass committee before a floor vote.
Where can I track SB 172?
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