February 18, 2025
RALEIGH — A statement from Donald Bryson, CEO of the John Locke Foundation, on the introduction of HB 154, “Reclaim State Assets from NCInnovation.”
“The 2023 allocation of $500 million in taxpayer funds to NCInnovation, which has fought public oversight at every turn, has raised serious concerns about transparency and fiscal responsibility. House Bill 154 seeks to address these concerns by ensuring that state funds are properly accounted for and returned to the General Fund.
At the John Locke Foundation, we believe taxpayers deserve clear and accountable stewardship of public resources, for constitutional core government services – venture capital is not among them. With North Carolina facing pressing needs—including recovery efforts from Hurricane Helene—reclaiming these funds is a prudent step toward responsible governance and ensuring taxpayer dollars are directed where they are needed most.”