§ 143B-437.4. NC Green Business Fund established as a special revenue fund. - North Carolina Statutes

Part 2B. NC Green Business Fund.

§ 143B‑437.4.  NC GreenBusiness Fund established as a special revenue fund.

(a)        Establishment. – TheNC Green Business Fund is established as a special revenue fund in theDepartment of Commerce, and the Department shall be responsible foradministering the Fund.

(b)        Purposes. – Moneysin the NC Green Business Fund shall be allocated pursuant to this subsection.The Department of Commerce shall make grants from the Fund to privatebusinesses with less than 100 employees, nonprofit organizations, localgovernments, and State agencies to encourage the expansion of small to mediumsize businesses with less than 100 employees to help grow a green economy inthe State. Moneys in the NC Green Business Fund shall be used for projects thatwill focus on the following three priority areas:

(1)        To encourage thedevelopment of the biofuels industry in the State. The Department of Commercemay make grants available to maximize development, production, distribution,retail infrastructure, and consumer purchase of biofuels in North Carolina,including grants to enhance biofuels workforce development.

(2)        To encourage thedevelopment of the green building industry in the State. The Department ofCommerce may make grants available to assist in the development and growth of amarket for environmentally conscious and energy efficient green buildingprocesses. Grants may support the installation, certification, or distributionof green building materials; energy audits; and marketing and sales of greenbuilding technology in North Carolina, including grants to enhance workforcedevelopment for green building processes.

(3)        To attract andleverage private‑sector investments and entrepreneurial growth inenvironmentally conscious clean technology and renewable energy products andbusinesses, including grants to enhance workforce development in suchbusinesses. (2007‑323,s. 13.2(a).)