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--- version:Edition 1
+++ version:Filed
@@ -1,15 +1,15 @@
 GENERAL ASSEMBLY OF NORTH CAROLINA
 SESSION 2025
-S 1
-SENATE BILL 891
+S D
+SENATE BILL DRS15188-NIfa-82A
 
 Short Title: Small Business Investment Grant. (Public)
 Sponsors: Senators Smith, Murdock, and Robinson (Primary Sponsors).
-Referred to: Rules and Operations of the Senate
-April 29, 2026
-*S891-v-1*
+Referred to:
+
+*DRS15188-NIfa-82A*
 A BILL TO BE ENTITLED 1
-AN ACT TO PROVIDE FU NDS TO ASSIST SMALL BUSINESSES ADVERSELY  2
+AN ACT TO PROVIDE FUNDS TO ASSIST SMALL BUSINESSES ADVERSELY 2
 IMPACTED BY COVID-19. 3
 Whereas, the unprecedented issues surrounding COVID -19 have impacted North 4
 Carolina's business economy; and 5
@@ -24,14 +24,14 @@
 appropriated in this section do not revert but remain available to the Department for the purposes 14
 provided in this act. 15
 SECTION 1.(b)  Purpose. – The purpose of this section is to help small businesses 16
-in North Carolina that experienced economic disruption a s a result of the COVID -19 pandemic 17
+in North Carolina that experienced economic disruption as a result of the COVID -19 pandemic 17
 by providing grants awarded by the Department, in consultation with the North Carolina 18
 Department of Revenue, to offset the economic harm suffered and to promote economic 19
 development and maintain economic stability by helping to preserve and sustain a vital element 20
 of the State's economy. 21
 SECTION 1.(c)  Small Business Recovery Program. – There is created the 22
 COVID-19 Small Business Recovery Program to be administered by the Department of 23
-Commerce. The Department may provi de a one -time grant to each qualifying business. For 24
+Commerce. The Department may provide a one -time grant to each qualifying business. For 24
 purposes of this section, a qualifying business is an entity (i) subject to income tax under Article 25
 4 of Chapter 105 of the General Statutes, (ii) with annual receipts, when combined with the 26
 annual receipts of all related persons, for the 2019 tax year of eight million dollars ($8,000,000) 27
@@ -44,13 +44,17 @@
 Department may accept applications until the funds appropriated in this section have been fully 34
 awarded. The grant amount to a qualifying business may not exceed the lesser of (i) two hundred 35
 fifty thousand dollars ($250,000) or (ii) the amount of reduction in sales tax collections of the 36
+FILED SENATE
+Apr 28, 2026
+S.B. 891
+PRINCIPAL CLERK
 General Assembly Of North Carolina Session 2025
-Page 2  Senate Bill 891-First Edition
+Page 2  DRS15188-NIfa-82A
 qualifying business resulting from the COVID -19 pandemic for the 2020 tax year when 1
 compared to collections for the 2019 tax year. The total of all grants awarded under this Program 2
 may not exceed two hundred fifty million dollars ($250,000,000). The Department shall verify 3
 that the business is a qualifying business with the Department of Revenue. Notwithstanding 4
-G.S. 105-259, the Department of Revenue may disclose tax informati on to the Department of 5
+G.S. 105-259, the Department of Revenue may disclose tax information to the Department of 5
 Commerce to verify eligibility for the Program. The Department's grant determinations based on 6
 applications filed are final. 7
 SECTION 1.(e)  Clawback. – A grant under the Program authorized in this section 8