Section 1

Requires the Legislative Research Commission (LRC) to study the availability of affordable housing in this state, including examining the 11 specified issues, including: (1) assess the availability of publicly owned land that could be developed into affordable residential housing; (2) examine the challenges facing those in need of affordable housing, including financial, social, and logistical challenges; (3) assess the ability of local governments to leverage existing laws and resources, including partnering with nonprofit and for-profit entities, to increase the availability of affordable housing; (4) assess the feasibility and cost-savings from partnerships between public utilities, private businesses, and local governments in replacing aging housing in existing programs with newer modular and mobile home units; and (5) examine any costs that may be associated with government rules, regulations, and ordinances. Requires the LRC to report its findings and proposed legislation to the 2026 Regular Session of the 2025 General Assembly.

Section 2

Amends the State Fair Housing Act, GS Chapter 41A, as follows. Amends the unlawful discriminatory housing practices set out in GS 41A-4 to also prohibit discrimination based on source of income. Defines source of income as any lawful source of money paid directly, indirectly, or on behalf of a renter or buyer of real property, including: (1) income derived from any lawful profession or occupation and (2) income or rental payments derived from a grant, loan program, the State or federal government or any local governmental unit, including the HOPE program or a Section 8 voucher, or financial assistance from a private source, including a nonprofit or other nongovernmental entity. Amends the exemption from GS 41A-4 for religious institutions or organizations or organizations they operate, supervise, or control, who give preference to members of the same religion in real estate transactions, to also prohibit them from restricting membership based on source of income. Effective October 1, 2025.

Section 3

Appropriates $45 million for 2025-26 from the General Fund to the North Carolina Housing Trust Fund to be used for the purposes in GS Chapter 122E (North Carolina Housing Trust and Oil Overcharge Act). Effective July 1, 2025.

Section 4

Amends GS 161-11.5 by decreasing the amount of the fee collected by the register of deeds for the registration or filing of instruments in general and for registering or filing any deed of trust or mortgage that must be credited to the General Fund from 20% to 18.5% and adds the requirement that 1.5% be credited to the North Carolina Housing Trust Fund. Effective July 1, 2025.

Section 5

Amends GS 105-228.30 by requiring that 33% of the funds from the excise tax on instruments conveying any interest in real property is conveyed to another person be remitted to the North Carolina Housing Trust Fund. Effective July 1, 2025.

Section 6

Adds new Article 2B, Fair Use of Credit Reports, to GS Chapter 75, providing as follows. Prohibits credit reporting agencies from collecting, storing, reporting, or using to determine a composite-type score information regarding any lawsuit filed against the consumer for ejectment or summary ejectment unless there has been a judgment entered in favor of the landlord. Applies to credit information collected or reports disbursed on or after October 1, 2025.

Section 7

Adds new Article 6, Optional Credit Reporting for Tenants of Subsidized Housing Program (Program), in GS Chapter 157, providing as follows.

Requires any participating landlord of subsidized housing to offer the tenant(s) obligated on the lease the option of having their rent payment information reported to at least one credit reporting agency. Defines participating landlord as a landlord who decides to participate in the Program; requires any housing authority engaged in the practice of directly leasing residential accommodations to tenants automatically be considered as a participating landlord. Defines rent payment information as information concerning a tenant's timely payment of rent, untimely payment of rent, or nonpayment of rent; excludes information concerning a tenant's payment or nonpayment of any fees other than rent. Requires for leases entered into on or after October 1, 2025, that the offer to report rent payment information be made at the time of the lease agreement and at least once annually thereafter. Requires the offer to report to include a written election of rent reporting that contains at least the nine specified items, including: (1) identification of each credit reporting agency to which rental payment information will be reported; (2) a statement that all of the tenant's rental payments will be reported, regardless of whether the payments are timely, late, or missed; (3) a statement that the tenant may opt into rent reporting at any time after the initial offer by the participating landlord; and (4) a statement that the tenant may elect to stop rent reporting at any time, but that they will not be able to resume rent reporting for at least six months after their election to opt out. Sets out further provisions governing the submission of the offer and acceptance of the tenant’s election to begin rent reporting. Allows the landlord to require a fee when the tenant elects to have their rental payments reported, of no more than the lesser of the actual cost of the landlord to provide the service or $10 per month; sets out provisions that apply when the tenant fails to pay the fee. Sets out the process for the tenant to stop the reporting.

Appropriates $1 million for 2025-26 from the General Fund to the North Carolina Housing Finance Agency to provide grants to private landlords deciding to participate in the Program. Requires grants to be awarded on the express condition that the funds be used by the landlord to make improvements to the subsidized housing provided. Requires grants to be awarded after October 1, 2026. Sets out provisions governing the amount of the grants. Prohibits awarding grants to housing authorities.

Applies to leases entered into on or after October 1, 2025.