Enacts Part 20A, Article 10, GS Chapter 143B. Cites the Part as the "North Carolina Small Business Capital Access Act". Sets forth five legislative findings; the Part's purpose; and 11 defined terms. Establishes the Office of Small Business Capital Access (Office) within the Department of Commerce (Department) with seven specified duties relating to the administration of the North Carolina Small Business Capital Access Program (Program), including submitting annual reports to the Governor and the NCGA. Provides for appointment of an Office Director by the Secretary of the Department. Sets forth qualifications of the Director. Establishes the 11-member Small Business Capital Access Oversight Board (Board) and charges the Board with providing strategic oversight of the Program as specified, including submitting annual recommendations to the Governor and the NCGA. Provides for Board appointment, terms, and meetings.

Establishes the Program includes seven described components as follows. Requires the Office to develop an application process and compliance guidelines for each component in consultation with the Board and to ensure coordination among Program components. For the Small Business Loan Guarantee Program component, lists the purpose of the component and five minimum required guidelines for the program component, including, among other requirements, requiring guarantees for loans made by qualified lenders to eligible small businesses (defined to mean a business that employs less than 500 full-time employees) and MWBEs (defined as a minority or women-owned business enterprise certified by the NC Office for Historically Underutilized Businesses) with coverage up to 80% of the loan amount for small businesses and 90% of the loan amount if a MWBE. Establishes and lists the purpose of the MWBE Growth Fund component, and sets forth three minimum required guidelines for the Growth Fund, including, among other requirements, requiring direct investments to qualified MWBEs ranging from $250,000 to $2 million. Provides for the purpose of the CDFI (defined as a Community Development Financial Institution certified by the US Department of Treasury) Support Initiative component and sets forth four minimum required guidelines, including, among other requirements, requiring the provision of direct grants to certified CDFIs operating in the State to be used for loan loss reserves, operating support, technological improvements, product development, and technical assistance capacity. Provides for the purpose of the Small Business Technical Assistance Network component and sets forth four required minimum guidelines, including, among other requirements, the provision of business development services to participants in all Program components and ensuring services are accessible in all regions of the State. Provides for the State Procurement Financing Initiative component and sets forth four minimum required guidelines, including, among other requirements, a bonding assistance program to help contractors secure required performance and payment bonds. Provides for the Small Business Innovation Fund component and sets forth four minimum required guidelines, including, among other requirements, the provision of matching grants of up to 50%, not to exceed $100,000, for recipients of federal Small Business Innovation research and Small Business Technology Transfer awards.

Establishes the Small Business Capital Access Fund (Fund) within the Department to consist of legislative appropriations, federal grant funds, private contributions and donations, loan repayments and investment returns, fess collected from program participants, and interest earnings. Limits use of funds to the purposes establishes by the section, including reasonable administrative expenses. Provides for separate accounting for program components as necessary. 

Directs the Office to develop and implement a comprehensive evaluation framework to measure the impact and effectiveness of the Program. Sets forth eight required performance metrics, including business revenue growth following program participation and default rates and program sustainability. (Appears to) direct the Office to contract for and procure an independent evaluation by a qualified external entity every three years. Requires annual reporting to the NCGA and Governor with six required components, including financial statements of the Fund. 

Reenacts Part 5, Tax Credits for Qualified Business Investments, of Article 4, GS Chapter 105 as it existed immediately before its repeal in 2014. Revises and adds to the Part as follows. Adds the following terms. Defines eligible investor to include a person subject to the franchise tax, income tax, or gross premium tax levied under state law. Defines eligible business as a business that meets the following six criteria: is registered with the Secretary of State pursuant to state law; has received during the current year or preceding three years assistance from the Office; is headquartered and primarily operating in the State; has been in operation for at least one year; had gross revenues of $5 million or less on a consolidated basis during its most recent fiscal year before filing an application for registration; and has 100 or fewer full-time employees. Modifies subordinated debt to exclude any portion of indebtedness that matures earlier than three years (was, five years) after its issuance. Deletes the terms granting entity; North Carolina Enterprise Corporation; qualified business; qualified business venture; qualified grantee business; qualified licensee business; real estate related business; related person; selling or leasing at retail; and service related industry. 

Amends GS 105-163.011to repeal subsection (b1), providing for the tax credit previously allowed for a pass through entity that purchases the equity securities or subordinated debt of a qualified business directly from the business. Modifies the tax credit allowed under subsection (b), making the credit available to eligible investors (was, individuals) who purchase the equity securities or subordinated debt of an eligible business (was, qualified business) directly from that business. Sets a new aggregate minimum for the credit at $10,000 and increases the aggregate cap from $50,000 to $500,000. Establishes new subsection (b2) to increase the credit allowed by 10% if the amount generating the credit is invested in an eligible business that is located in a development tier one or tier two area, or a MWBE. Makes conforming changes.

Amends GS 105-163.012, increasing the cap for the total of all tax credits allowed under the Part for investments made in a calendar year from $7.5 million to $10 million. 

Deletes GS 105-163.013 (providing for registration of qualified business ventures, qualified licensee businesses, and qualified grantee businesses and reporting to the Revenue Laws Study Committee by the Secretary of State). 

Amends GS 105-163.014 to specify that a credit under the Part is forfeited when, among other described events, (1) the eligible business received assistance pursuant to state law as a result of providing false information to the Office and assistance was withdrawn as a result; (2) within three years (was, one year) after the investment was made, the taxpayer transfers any of the qualifying securities received therefrom to another person or entity, subject to three listed exceptions; or (3) within three years (was, five years) after the investment was made, the eligible business in which the investment was made makes a redemption with respect to the securities received in the investment. Deletes subsection (d1), which provided an exception to forfeiture for qualified business ventures engaging primarily in motion picture film production.

Deletes the previous sunset provisions set forth in GS 105-163.015.

Appropriates $50 million in recurring funds from the General Fund to the Department for 2025-26 to establish and implement the Program. Provides that the funds do not revert. Allocates the funds in specified amounts to the seven components of the Program. Directs the Department to adopt implementing rules.

Provides a severability clause. 

Effective July 1, 2026. Requires the Office Director be appointed within 60 days of that date and the Board be appointed and hold its first meeting within 90 days of that date. Requires the Office to develop and publish program guidelines for all Program components within 180 days of the effective date. Requires the Office to implement the Small Business Loan Guarantee Program, the CDFI Support Initiative, the Small Business Technical Assistance Network, and a unified application system for all components within one year of the effective date. Directs the Office to implement the MWBE Growth Fund, the State Procurement Financing Initiative, and the initial regional innovation hubs within two years of the effective date.