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Appropriations committee approves plan for public legacy‑fund disclosure website

February 17, 2025 | 2025 Legislature NC, North Carolina


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Appropriations committee approves plan for public legacy‑fund disclosure website
House Bill 13‑19, which would fund a public disclosure website showing investments and appropriations from the state legacy fund, received a do‑pass recommendation from the House Appropriations Committee after changes from the State Investment Board.

Representative Bob Bosch and committee members discussed an amended version that preserves required public disclosures while allowing the State Investment Board and the Retirement and Investment Office to protect sensitive data. “With the amendment attached to it, we're very supportive of it,” said Jody Smith, interim executive director of the Retirement and Investment Office, who testified in support after the amendment.

Smith told the committee the office receives frequent open‑records requests about legacy‑fund holdings and related appropriations and that a public website would reduce that workload over time. “We regularly receive open records requests in our office … we've anticipated we spent tens of thousands of dollars on open records requests in our department,” she said. The office and the State Investment Board have discussed whether NDIT would build the site or whether outside contractors would be needed; the committee’s fiscal note used the higher cost estimate.

The committee adopted a do‑pass motion (motion by Representative Bosch, second by Representative Steeman) and recorded the roll call at 21 yes, 0 no, 2 absent. Committee members said the website should include both where the legacy fund is invested and how legislative appropriations from the fund have been spent each biennium.

Committee members also noted that the office had initially asked for an FTE but removed that request after the amendment; the office said it may return later if maintenance and reporting requirements increase.

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