North Carolina 2025 Session Status: In Committee 6 D cosponsors

SB 1055 — Carolina Housing Promise Act.

Last action — Withdrawn From Com

  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 April 30, 2026. It must pass committee before a floor vote.

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

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Stalled 26% · moderate confidence

  • In Committee

    Current position in the legislative process.

  • 6 sponsors

    1 primary, 5 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (6 D).

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Bill Text

What changed in the latest version

53 added · 54 removed

Plain-language change summary

In the latest version of Senate Bill 1055, several lines were added to clarify the process by which the state agency can issue bonds and notes to support housing initiatives. It also outlines the application process for these financial resources, ensuring that the necessary forms are provided by the Secretary. These changes aim to streamline the funding mechanisms for addressing the housing crisis, making it easier to mobilize resources quickly. Overall, this update could significantly enhance the state's ability to implement housing support measures.

→
Previous
Latest
FILED SENATE GENERAL ASSEMBLY OF NORTH CAROLINA Apr 30, 2026 S.B.
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2025 S 1 SENATE BILL 1055 Short Title:
1055 SESSION 2025 PRINCIPAL CLERK S D SENATE BILL DRS45554-MCxf-249 Short Title:
A BILL TO BE ENTITLED AN ACT TO COMPREHENSIVELY ADDRESS HOUSING AFFORDABILITY AND ACCESSIBILITY ISSUES AND NEEDS IN THE STATE.
Rules and Operations of the Senate May 4, 2026 A BILL TO BE ENTITLED AN ACT TO COMPREHENSIVELY ADDRESS HOUSING AFFORDABILITY AND ACCESSIBILITY ISSUES AND NEEDS IN THE STATE.
TheAgency is hereby authorizedto provide forthe issuance, at onetimeor fromtimeto time, of bonds and notes of the Agency to carry out and effectuate its corporate purposes.
TheAgencyis herebyauthorizedto provide forthe issuance, at onetimeor fromtimeto time, of bonds and notes of the Agency to carry out and effectuate its corporate purposes.
The total amount of bonds, bond anticipation notes, and construction loan notes outstanding at any one time shall not exceed twelve billion dollars ($12,000,000,000) eighteen billion dollars ($18,000,000,000) excluding therefrom any bond anticipation notes for the payment of which bonds have been issued.
The total amount of bonds, bond anticipation notes, and construction loan notes outstanding at anyone time shall not exceed twelve billion dollars ($12,000,000,000) eighteen billion dollars ($18,000,000,000) excluding therefrom any bond anticipation notes for the payment of which bonds have been issued.
In case any officer whose signature or a facsimile of whose signature shall appear on any bonds or notes or coupons attached thereto shall cease to be such officer before the delivery thereof, such signature or such facsimile shall nevertheless be valid and sufficient for all purposes the same as if he had remained in office until such delivery.
In case any officer whose signature or a facsimile of whose signature shall appear on anybonds or notes or coupons attached thereto shall cease to be such officer before the delivery thereof, such signature or such facsimile shall nevertheless be valid and sufficient for all purposes the same as if he had remained in office until such delivery.
The bonds or notes may be issued in coupon or in registered form, or both, *DRS45554-MCxf-249* General Assembly Of North Carolina Session 2025 as the Agency may determine, and provision may be made for the registration of any coupon bonds or notes as to principal alone and also as to both principal and interest, and for the reconversion into coupon bonds or notes of any bonds or notes registered as to both principal and interest, and for the interchange of registered and coupon bonds or notes.
The bonds or notes maybe issued in coupon or in registered form, or both, *S1055-v-1* General Assembly Of North Carolina Session 2025 as the Agency may determine, and provision may be made for the registration of any coupon bonds or notes as to principal alone and also as to both principal and interest, and for the reconversion into coupon bonds or notes of anybonds or notes registered as to both principal and interest, and for the interchange of registered and coupon bonds or notes.
The Department of Revenue shall credit the funds remitted to the Department of Revenue under this subsection to the General Fund." SECTION 1.1.(c) Offset by the increase of the excise tax, as provided in subsection (b) of this section, there is appropriated from the General Fund to the Housing Finance Agency the recurring sum of five million dollars ($5,000,000) beginning in the 2026-2027 fiscal year to Page 2 DRS45554-MCxf-249 General Assembly Of North Carolina Session 2025 be allocated to a Housing Innovation Office established by the Housing Finance Agency.
The Department of Revenue shall credit the funds remitted to the Department of Revenue under this subsection to the General Fund." SECTION 1.1.(c) Offset by the increase of the excise tax, as provided in subsection (b) of this section, there is appropriated from the General Fund to the Housing Finance Agency the recurring sum of five million dollars ($5,000,000) beginning in the 2026-2027 fiscal year to Page 2 Senate Bill 1055-First Edition General Assembly Of North Carolina Session 2025 be allocated to a Housing Innovation Office established by the Housing Finance Agency.
The Housing Innovation Office shall use funds appropriated in this section for (i) administrative and operational costs and (ii) research and implementation of housing solutions, including technical assistance, grants, loans, and other measures designed to address the housing crisis by supporting the construction and maintenance of affordable, supportive, and sustainable homes and developing innovative funding models and building techniques.
The Housing Innovation Office shall use funds appropriated in this section for (i) administrative and operational costs and (ii) research and implementation of housing solutions, including technical assistance, grants, loans, and other measures designed to address the housing crisis bysupporting the construction and maintenance of affordable, supportive, and sustainable homes and developing innovative funding models and building techniques.
The application must be on a form prescribed by the Secretary and include any information required by the Secretary demonstrating that the qualified contribution has met the conditions for the credit (d) Substantiation.
The application must be on a form prescribed bythe Secretary and include any information required by the Secretary demonstrating that the qualified contribution has met the conditions for the credit (d) Substantiation.
If the Secretary reopens the application period and notwithstanding the DRS45554-MCxf-249 Page 3 General Assembly Of North Carolina Session 2025 application deadline in subsection (c) of this section, the additional applications must be filed with the Secretary on or before October 15 of the year following the calendar year in which the qualified contribution was made.
If the Secretary reopens the application period and notwithstanding the Senate Bill 1055-First Edition Page 3 General Assembly Of North Carolina Session 2025 application deadline in subsection (c) of this section, the additional applications must be filed with the Secretary on or before October 15 of the year following the calendar year in which the qualified contribution was made.
– The Secretary shall calculate the total amount of credits claimed from applicationstimelyfiled undersubsection(c)ofthissection.
– The Secretary shall calculate the total amount of credits claimed from applicationstimelyfiled undersubsection(c)ofthissection.Ifthetotalamountofcreditsclaimed for qualified contributions made in a calendar year exceeds this maximum amount, the Secretary shall allow a portion of the credits claimed by allocating the maximum amount in credits in proportion to the size of the credit claimed byeach taxpayer.
Ifthetotalamountofcreditsclaimed for qualified contributions made in a calendar year exceeds this maximum amount, the Secretary shall allow a portion of the credits claimed by allocating the maximum amount in credits in proportion to the size of the credit claimed by each taxpayer.
– A taxpayer who claims a credit under this section must add back to taxable income any amount deducted under the Code for the qualified contribution.
– A taxpayer who claims a credit under this section must add back to taxable income anyamount deducted under the Code for the qualified contribution.
A taxpayer who claims the credit allowed in this section may not, for the same qualified contribution, claim another credit allowed in this Part." SECTION 1.2.(c) Subsection (a) of this section is effective July 1, 2026.
A taxpayer who claims the credit allowed in this section may not, for the same qualified contribution, claim another credit allowed in this Part." SECTION 1.2.(c) Subsection (a) of this section is effective July1, 2026.
An accessory dwelling unit may be built or sited concurrently or after the primary single-family detached dwelling has been constructed or sited.
An accessorydwelling unit maybe built or sited concurrentlyor after the primary single-familydetached dwelling has been constructed or sited.
(a) Notwithstanding any provision of this Chapter to the contrary, (i) within 30 days of a local government's receipt of an application for development approval for a qualifying affordable development or within 60 days of a local government's receipt of an application for development Page 4 DRS45554-MCxf-249 General Assembly Of North Carolina Session 2025 approval of a residential project with less than 100 units, the local government shall complete an administrative review of the application and any supporting documents and make an administrative decision that does one of the following:
(a) Notwithstanding any provision of this Chapter to the contrary, (i) within 30 days of a local government's receipt of an application for development approval for a qualifying affordable development or within 60 days of a local government's receipt of an application for development Page 4 Senate Bill 1055-First Edition General Assembly Of North Carolina Session 2025 approval of a residential project with less than 100 units, the local government shall complete an administrative review of the application and any supporting documents and make an administrative decision that does one of the following:
(c) Upon a developer's receipt of a notice of a deficient application and a deficiency list undersubdivision (2) of subsection (a)of this section,thedeveloper maydo any of thefollowing:
(c) Upon a developer's receipt of a notice of a deficient application and a deficiency list undersubdivision (2) of subsection (a)of this section,thedeveloper maydo anyof thefollowing:
(d) Within 10 business days of a local government's receipt of a corrected application under subdivision (1) of subsection (c) of this section, the local government shall notify the developerin writing whethertheapplication(i)is completeandnofurtherinformation is required for the local government to make a development approval determination or (ii) does not correct all the deficiencies identified in accordance with subdivision (2) of subsection (a) of this section.
(d) Within 10 business days of a local government's receipt of a corrected application under subdivision (1) of subsection (c) of this section, the local government shall notify the developerin writingwhethertheapplication(i)is completeandnofurtherinformation is required for the local government to make a development approval determination or (ii) does not correct all the deficiencies identified in accordance with subdivision (2) of subsection (a) of this section.
DRS45554-MCxf-249 Page 5 General Assembly Of North Carolina Session 2025 (b) A local government shall allow at least a thirty-five percent (35%) increase in density for projects where at least fifteen percent (15%) of the units are reserved for low-income residents.
Senate Bill 1055-First Edition Page 5 General Assembly Of North Carolina Session 2025 (b) A local government shall allow at least a thirty-five percent (35%) increase in density for projects where at least fifteen percent (15%) of the units are reserved for low-income residents.
– A first-time home buyer designated by an account holderforwhom themoneyin afirst-timehomebuyersavings account is or will be used for eligible expenses for the purchase of the qualified beneficiary's first primary residence, which is located in this State.
– A first-time home buyer designated by an account holderforwhom themoneyin afirst-time homebuyersavings account is or will be used for eligible expenses for the purchase of the qualified beneficiary's first primary residence, which is located in this State.
– In calculating North Carolina taxable income, a taxpayer must add to the taxpayer's adjusted gross incomeanyofthefollowingitems thatarenot included in thetaxpayer's adjusted gross income:
– In calculating North Carolina taxable income, a taxpayer must add to the taxpayer's adjusted gross incomeanyofthefollowingitems thatarenot includedin thetaxpayer's adjusted gross income:
… (7a) The amount deducted in a prior taxable year to the extent this amount was withdrawn from a first-time home buyer savings account and not used to pay for eligible expenses of a qualified beneficiary in conformity with this section, unless the withdrawal was rolled over to another newly created first-time home buyer savings account.
… (7a) The amount deducted in a prior taxable year to the extent this amount was withdrawn from a first-time home buyer savings account and not used to pay for eligible expenses of a qualified beneficiaryin conformitywith this section, unless the withdrawal was rolled over to another newly created first-time home buyer savings account.
SECTION 3.3.(a) There is appropriated from the General Fund to the Housing Finance Agency the recurring sum of ten million dollars ($10,000,000) beginning in the Page 6 DRS45554-MCxf-249 General Assembly Of North Carolina Session 2025 2026-2027 fiscal year to be used for a program to amplify existing community land trusts and to establish new community land trusts so as to build and amplify overall availability of affordable housing through entities that retain ownership of the land and lease it to homeowners who purchase the house on that land at below-market pricing.
SECTION 3.3.(a) There is appropriated from the General Fund to the Housing Finance Agency the recurring sum of ten million dollars ($10,000,000) beginning in the Page 6 Senate Bill 1055-First Edition General Assembly Of North Carolina Session 2025 2026-2027 fiscal year to be used for a program to amplify existing community land trusts and to establish new community land trusts so as to build and amplify overall availability of affordable housing through entities that retain ownership of the land and lease it to homeowners who purchase the house on that land at below-market pricing.
Required guidelinesfor theprogram include,but are not limitedto, the following:
Required guidelines for theprogram include, but are not limitedto, the following:
– Restrictions that have been permanently imposed by the Housing Finance Agency on an affordable rental units owned, operated, or managed by an appropriate nonprofit organization Permanent affordability restrictions imposed or required by the Agency pursuant to this subdivision may require a regulatory agreement with the Agency orother affordabilityrestrictions in recordeddocuments, providedthe Agency determines that such restrictions are enforceable and likely to be enforced.
– Restrictions that have been permanently imposed by the Housing Finance Agency on an affordable rental units owned, operated, or managed by an appropriate nonprofit organization Permanent affordability restrictions imposed or required by the Agency pursuant to this subdivision may require a regulatory agreement with the Agencyorother affordabilityrestrictions in recordeddocuments, providedthe Agency determines that such restrictions are enforceable and likely to be enforced.
DRS45554-MCxf-249 Page 7 General Assembly Of North Carolina Session 2025 (5) Qualifying rural area.
Senate Bill 1055-First Edition Page 7 General Assembly Of North Carolina Session 2025 (5) Qualifying rural area.
(1) One hundred million dollars ($100,000,000) to establish an emergency housing response fund available to NCORR to respond to housing needs after, and due to the event on which is based, a major disaster declaration by the President of the United States under the Stafford Act (P.L.
(1) One hundred million dollars ($100,000,000) to establish an emergency housing response fund available to NCORR to respond to housingneeds after, and due to the event on which is based, a major disaster declaration by the President of the United States under the Stafford Act (P.L.
Page 8 DRS45554-MCxf-249 General Assembly Of North Carolina Session 2025 (3) All clawbacks that have been triggered and its progress on obtaining repayments.
Page 8 Senate Bill 1055-First Edition General Assembly Of North Carolina Session 2025 (3) All clawbacks that have been triggered and its progress on obtaining repayments.
As part of its study, the Department shall investigate and recommend optimal loan terms, the administrative structure for the program, and limitations on loan amounts and on uses of loaned funds necessary to maximize safety and economic benefits and target funding support where need is greatest.
As part of its study, the Department shall investigate and recommend optimal loan terms, the administrative structure for the program, and limitations on loan amounts and on uses of loaned funds necessary to maximize safetyand economic benefits and target funding support where need is greatest.
The Department shall submit its report, including funding needs and any legislative proposals, to the General Assembly and the Fiscal Research Division no later than January 1, 2027.
The Department shall submit its report, including funding needs and anylegislative proposals, to the General Assemblyand the Fiscal Research Division no later than January 1, 2027.
The Office shall submit its report, including funding needs and any legislative proposals, to the General Assembly and the Fiscal Research Division no later than January 1, 2027.
The Office shall submit its report, including funding needs and anylegislative proposals, to the General Assembly and the Fiscal Research Division no later than January 1, 2027.
The amount of the credit is equal to the lesser of (i) thirty percent (30%) of the cost of DRS45554-MCxf-249 Page 9 General Assembly Of North Carolina Session 2025 conversion or (ii) forty thousand dollars ($40,000).
The amount of the credit is equal to the lesser of (i) thirty percent (30%) of the cost of Senate Bill 1055-First Edition Page 9 General Assembly Of North Carolina Session 2025 conversion or (ii) forty thousand dollars ($40,000).
– Restrictions that have been permanently imposed by the Housing Finance Agency on an affordable rental units owned, operated, or managed by an appropriate nonprofit organization Permanent affordability restrictions imposed or required by the Agency pursuant to this subdivision may require a regulatory agreement with the Agency orother affordabilityrestrictions in recordeddocuments, providedthe Agency determines that such restrictions are enforceable and likely to be enforced.
– Restrictions that have been permanently imposed by the Housing Finance Agency on an affordable rental units owned, operated, or managed by an appropriate nonprofit organization Permanent affordability restrictions imposed or required by the Agency pursuant to this subdivision may require a regulatory agreement with the Agencyorother affordabilityrestrictions in recordeddocuments, providedthe Agency determines that such restrictions are enforceable and likely to be enforced.
105-153.14, as enacted by subsection (a) of this section, and (ii) where the existing building footprint is maintained.
105-153.14, as enacted bysubsection (a) of this section, and (ii) where the existing building footprint is maintained.
SECTION 6.1.(c) Subsection (a) of this section is effective for taxable years beginning on or after January 1, 2026.
SECTION 6.1.(c) Subsection (a) of this section is effective for taxable years beginning on or after January1, 2026.
Costs which may be offset with funding appropriated in this subsection includes architectural and financial feasibility assessment assistance.
Costs which may be offset with funding appropriated in this subsection includes architectural and financial feasibilityassessment assistance.
The Agency shall develop an application process and detailed guidelines applicable to the program to maximize the number of affordable rental units resulting from the funding provided in this section.
The Agencyshall develop an application process and detailed guidelines applicable to the program to maximize the number of affordable rental units resulting from the funding provided in this section.
The temporary rental and Page 10 DRS45554-MCxf-249 General Assembly Of North Carolina Session 2025 housing assistance provided in this section shall be limited in duration and shall not exceed six consecutive months of provided assistance for any one person or family.
The temporary rental and Page 10 Senate Bill 1055-First Edition General Assembly Of North Carolina Session 2025 housing assistance provided in this section shall be limited in duration and shall not exceed six consecutive months of provided assistance for any one person or family.
DRS45554-MCxf-249 Page 11 General Assembly Of North Carolina Session 2025 SECTION 8.1.(b) There is appropriated from the General Fund to the Housing Finance Agency the sum of twenty million dollars ($20,000,000) in nonrecurring funds for the 2026-2027 fiscal year to be allocated to a Rapid Rehousing Program established by the Housing Finance Agency.
Senate Bill 1055-First Edition Page 11 General Assembly Of North Carolina Session 2025 SECTION 8.1.(b) There is appropriated from the General Fund to the Housing Finance Agency the sum of twenty million dollars ($20,000,000) in nonrecurring funds for the 2026-2027 fiscal year to be allocated to a Rapid Rehousing Program established by the Housing Finance Agency.
Show all 47 changed rows (7 more)
Previous
Latest
Page 12 DRS45554-MCxf-249 General Assembly Of North Carolina Session 2025 b.
Page 12 Senate Bill 1055-First Edition General Assembly Of North Carolina Session 2025 b.
The Department shall (i) develop guidelines for an application process for qualifying employers for the allocation of funds granted pursuant to this section and (ii) prioritize awarding fundsbased on the degree to which the employerhas shown, in the application or otherwise, the following:
The Department shall (i) develop guidelines for an application process for qualifying employers for the allocation of funds granted pursuant to this section and (ii) prioritize awarding fundsbased on the degree to which the employer has shown, in the application or otherwise, the following:
– In conjunction with The University of North Carolina and the Community Colleges System Office, the Department shall develop a grant program for institutions of higher education in this State to offset costs of researching and developing (i) building methods that show potential to reduce construction time and costs, (ii) more affordable or sustainable materials, or (iii) pioneering construction techniques that save resources while maintaining or improving quality.
– In conjunction with The Universityof North Carolina and the Community Colleges System Office, the Department shall develop a grant program for institutions of higher education in this State to offset costs of researching and developing (i) building methods that show potential to reduce construction time and costs, (ii) more affordable or sustainable materials, or (iii) pioneeringconstruction techniques that save resources while maintaining or improving quality.
DRS45554-MCxf-249 Page 13 General Assembly Of North Carolina Session 2025 SECTION 10.1.(b) There is appropriated from the General Fund to the Department of Commerce the recurring sum of twenty-five million dollars ($25,000,000) beginning in the 2026-2027 fiscal year to be allocated to a special account established by the Department to be known as the Equitable Development Account.
Senate Bill 1055-First Edition Page 13 General Assembly Of North Carolina Session 2025 SECTION 10.1.(b) There is appropriated from the General Fund to the Department of Commerce the recurring sum of twenty-five million dollars ($25,000,000) beginning in the 2026-2027 fiscal year to be allocated to a special account established by the Department to be known as the Equitable Development Account.
Funds appropriated to the account shall be used to identify communities with persistent poverty, areas with housing cost burdens exceeding forty percent (40%) of median household income, or opportunity zone census tracts and provide funds to the local government units in which identified neighborhoods are located to construct, improve, and repair water, sewer, electrical, transportation, and other infrastructure.
Funds appropriated to the account shall be used to identify communities with persistent poverty, areas with housing cost burdens exceeding forty percent (40%) of median household income, or opportunityzone census tracts and provide funds to the local government units in which identified neighborhoods are located to construct, improve, and repair water, sewer, electrical, transportation, and other infrastructure.
(4) Acceptable levels of public services and infrastructure to support development, including water, waste disposal, utilities, emergency services, transportation, education, recreation, community facilities, and other public services, including plans and policies for provision of and financing for public infrastructure.
(4) Acceptable levels of public services and infrastructure to support development, including water, waste disposal, utilities, emergency services, transportation, education, recreation, community facilities, and other public services, includingplans and policies for provision of and financing for public infrastructure.
Page 14 DRS45554-MCxf-249
Page 14 Senate Bill 1055-First Edition
⬇ Download PDF
View plain text versions (2)

Action History

  1. Withdrawn From Com

  2. Re-ref Com On Appropriations/Base Budget

  3. Passed 1st Reading

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

  5. Filed

Sponsors

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 5 co-sponsors · 173 not signed on

Sponsors (1)

Co-sponsors (5)

Not signed on (173)

173 members have not signed on to this bill.

Show all 173 →

"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

taxation housing
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 1055?
SB 1055 is sponsored by Joyce Waddell (Democratic), DeAndrea Salvador (Democratic), Sydney Batch (Democratic), Woodson Bradley (Democratic), Michael Garrett (Democratic), and Kandie D. Smith (Democratic).
What is the current status of SB 1055?
This bill is in committee in the Senate. Introduced April 30, 2026. It must pass committee before a floor vote.
Where can I track SB 1055?
Track SB 1055 free on One Click Politics — get push/email alerts when it moves.

Make your voice heard on SB 1055

Find the representatives who decide this bill and tell them where you stand — for yourself, or mobilize your whole list in one click with One Click Politics advocacy software.

Find my representatives → Run a campaign

Stay ahead of SB 1055

Last checked for changes 3 months ago · updated continuously

One Click Politics tracks every bill in Congress and all 50 states.

Track this bill →