SB 200 allocates $150 million in one-time state funds to the North Carolina Housing Trust Fund specifically for housing relief in counties affected by Hurricane Helene. This funding will support housing assistance for residents displaced or damaged by the hurricane in areas designated under a federal major disaster declaration. The bill directs the funds to be administered through existing housing program rules (Chapter 122E of state law) for the 2025-2026 fiscal year. It directly benefits hurricane-impacted homeowners, renters, and communities in designated counties. The bill becomes effective July 1, 2025.
HB 245 modifies North Carolina's low-income housing tax credit program to prioritize affordable housing development in rural communities and counties with higher poverty rates. It requires the state housing committee to adopt allocation rules that favor projects within 10 miles of amenities (like grocery stores) in towns under 10,000 people, measure distances by straight-line radius (not driving routes), and use poverty levels as a tiebreaker when projects score equally. The bill directs the committee to publish proposed rules for public comment and hold hearings before finalizing annual allocation plans. This policy change redirects existing housing tax credits toward qualifying rural and high-poverty areas without creating new funding. The bill takes effect October 1, 2025, for future allocation plans.
HB 90 provides a 3% cost-of-living adjustment (COLA) to retirement allowances for retirees in North Carolina's Teachers', State Employees', Judicial, Legislative, and Local Governmental Retirement Systems. The increase applies to retirees who retired on or before specific dates (ranging from July 1, 2024, to January 1, 2025), with those who retired later receiving a proportional increase based on months served during 2024-2025. The bill appropriates $250 million from the General Fund to fund this adjustment, effective July 1, 2025. It directly affects current retirees in these five systems by increasing their monthly payments.
HB 181 reinstates North Carolina's Earned Income Tax Credit (EITC) for working families with children, providing a state tax credit equal to 5% of the federal EITC amount. The credit is refundable, meaning eligible families receive cash payments even if they owe no state tax, directly benefiting low-to-moderate income households struggling with housing, childcare, and basic living costs. It applies to taxable years beginning January 1, 2025, and aligns with federal EITC eligibility criteria. The bill reenacts the credit after its prior expiration, creating a concrete policy change to supplement family income.
HB 273 creates the Brushy Mountains State Natural Area (BMSNA) in Alexander, Caldwell, and Wilkes counties, adding it to North Carolina's state parks system. The bill appropriates $500,000 total ($250,000 one-time and $250,000 annual) from the General Fund for initial land acquisition, site development, and operating costs at BMSNA, using existing funding sources like the Land and Water Conservation Fund. This directly affects residents and visitors in those three counties by establishing a new protected natural area. The funding becomes effective July 1, 2025, for the 2025-2026 fiscal year.
SB 230 increases the income limit for North Carolina's Elderly or Disabled Property Tax Homestead Exclusion from $25,000 to $48,000 for taxable years beginning July 1, 2025, and adjusts this limit annually based on Social Security cost-of-living adjustments. It directly affects elderly or disabled homeowners whose property tax bills are reduced under this exclusion, expanding eligibility to those with higher incomes. The bill establishes that the Department of Revenue must annually calculate and notify counties of the updated income limit, rounded to the nearest $100, starting July 1, 2025. This change aims to better align the exclusion with inflation and support more low-to-moderate income senior or disabled homeowners.
SB 228 modifies North Carolina's property tax exclusion for disabled veterans, replacing a flat $45,000 exemption with a percentage-based system tied to the veteran's VA disability rating. It directly affects veterans with a 50% or higher service-connected disability rating (or surviving spouses if the veteran died from a service-connected condition), who own their primary residence. Under the bill, the tax exclusion equals the veteran's disability percentage multiplied by their home's appraised value (e.g., a 70% disabled veteran would get 70% of their home's value excluded). Eligibility requires VA certification of the disability rating as of January 1 prior to the tax year, and the change takes effect for taxes due in 2025.
HB 280 allocates $30,000 in one-time state funds to support the North Carolina Senior Tar Heel Legislature, a program for older residents to engage with state policy. The funding, from the General Fund for the 2025-2026 fiscal year, covers operational costs for this existing program established under state law. It directly affects the Senior Tar Heel Legislature by providing financial resources for its activities. The bill becomes effective July 1, 2025, and does not create new policy but enables the program's continued operation.
HB 303, titled "Make Corporations Pay What They Owe," would repeal a planned phaseout of North Carolina's corporate income tax. Specifically, it reverses Section 42.2 of S.L. 2021-180, which had scheduled a gradual reduction in the corporate tax rate. This bill directly affects corporations subject to North Carolina's corporate income tax by preventing the tax rate from decreasing as previously scheduled. The legislation is procedural in nature, focusing on reversing a specific tax policy change rather than creating new tax rates or mechanisms.
HB 299 increases the property tax exemption for disabled veterans in North Carolina from $45,000 to $54,000 of a home's appraised value. It directly affects qualifying disabled veterans who own and occupy their primary residence, allowing them to exclude a larger portion of their home's value from property taxes. The bill amends Section 105-277.1C of state law to reflect this higher exclusion limit, while maintaining that recipients cannot claim other property tax relief. This change takes effect for property taxes due on or after July 1, 2025.
