Budget & Taxes

in committee · North Carolina · Senate Mar 26, 2025

SB 543: State Auditor to Audit Private Schools.

SB 543 requires the North Carolina State Auditor to periodically audit private schools that enroll students receiving state-funded scholarship grants under specific education programs. This bill directly affects nonpublic schools participating in state scholarship initiatives, mandating regular financial reviews of their use of public funds. The key provision adds this audit responsibility to the State Auditor's duties under existing law, ensuring transparency for taxpayer dollars spent on private education. The bill focuses on concrete financial oversight without altering scholarship eligibility or program structure. (Note: The bill is currently in early legislative stages as of March 2025.)

Topics ✓ Budget & TaxesSupports Budget & TaxesMandates audits of public funds in private school scholarships, ensuring fiscal accountability and transparency in state budget use.85% confidence

Sub-Topics Audits & Accountability

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introduced · North Carolina · Senate Mar 25, 2025

SB 615: Property Tax Rate Transparency Act.

SB 615, the Property Tax Rate Transparency Act, requires local governments in North Carolina to hold a vote on whether to use a revenue-neutral tax rate during years when they conduct a general property reappraisal. This affects counties, cities, and other local governments that reappraise property values. The bill mandates that governing boards vote on adopting a tax rate calculated to maintain the same total tax revenue as the previous year (after accounting for new property values), rather than automatically adjusting rates based on reappraised values. If approved by a majority, the local government must use this revenue-neutral rate in its budget; otherwise, it follows standard tax levy procedures. This changes how local tax rates are set during reappraisal cycles, making the rate decision subject to a formal vote.

Topics ✓ Budget & TaxesSupports Budget & TaxesRequires revenue-neutral tax rates during reappraisals, preventing automatic tax increases and providing relief to property owners by maintaining consistent total tax revenue.95% confidence

Sub-Topics Property Tax Revenue

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died · North Carolina · Senate Mar 26, 2025

SB 534: Capital Project Funding at NCA&ampT/WSSU.

SB 534 allocates $237.5 million in one-time state funding from the Capital and Infrastructure Fund for capital projects at two North Carolina universities. Specifically, it provides $125 million to North Carolina A&T State University for an Agricultural Research Classroom and $112.5 million to Winston-Salem State University for a Health, Physical Education, and Recreation Complex. The funding is designated for the 2025-2026 fiscal year and becomes effective July 1, 2025. This bill directly affects the operations and infrastructure development of these two public universities.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill allocates $237.5M from Capital & Infrastructure Fund for university capital projects, directly advancing state budget appropriations for public infrastructure spending.95% confidence ✓ EducationSupports EducationAllocates $237.5M for university infrastructure projects at NCA&T and WSSU, directly funding higher education facilities per bill summary.95% confidence

Sub-Topics Appropriations State Budget Higher Education

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in committee · North Carolina · Senate Mar 26, 2025

SB 627: Small Business Capital Improvement Account.

SB 627 allows North Carolina small businesses with annual gross receipts under $10 million to reduce their state income tax by deducting funds deposited into a special capital improvement account. Businesses can deduct up to 5% of their adjusted gross income (capped at $1 million), 2% (up to $2 million), or 1% (up to $3 million) for qualifying property improvements like upgrades that add value, extend property life by 10+ years, or adapt property for new business uses. Funds must be deposited into a federally insured bank account and used solely for these improvements; unused funds must be added back to taxable income. The bill takes effect for tax years beginning January 1, 2025, and directly affects small businesses making eligible capital investments.

Topics ✓ Budget & TaxesSupports Budget & TaxesSB 627 provides tax deductions for small businesses (under $10M gross receipts), reducing taxable income and offering direct tax relief through capital improvement incentives.95% confidence

Sub-Topics Business Taxes Income Tax Tax Incentives Tags Small Business

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died · North Carolina · Senate Mar 26, 2025

SB 632: Homes for Heroes.

SB 632 ("Homes for Heroes") creates a homebuyers' assistance program for North Carolina public servants (including teachers, firefighters, law enforcement, and emergency medical personnel) who are first-time homebuyers. It provides up to $25,000 or 10% of a home's purchase price - covering down payments, mortgage insurance, and closing costs - using $200 million in state funds, with mortgage assistance limited to 60 months. Separately, it establishes a tax credit for volunteer firefighters and rescue workers who incur unreimbursed work expenses, capping the credit at $5,000 or the taxpayer's annual income tax liability, requiring 36 hours of annual training. The program begins July 1, 2025, and the tax credit applies to taxable years starting January 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $200M state funds for public servant housing assistance and establishes tax credit for volunteer firefighters, advancing fiscal support for key services.95% confidence ✓ EducationSupports EducationBill specifically includes teachers as eligible beneficiaries for homebuyer assistance, supporting educator financial stability and retention in education workforce.85% confidence ✓ HousingSupports HousingProvides $200M state funds for down payment/closing cost assistance to public servants, directly advancing affordable housing access for target groups.95% confidence

Sub-Topics Income Tax Tax Credits Affordable Housing Homeownership Housing Finance

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in committee · North Carolina · Senate Mar 26, 2025

SB 621: An Act for Better Education.

SB 621 reinstates a temporary sales tax exemption for school supplies in North Carolina, effective July 1, 2025. The bill reenacts G.S. 105-164.13C, which exempts qualifying items like notebooks, pens, and backpacks from state sales tax during a designated period each year. This directly affects families purchasing school supplies for children, reducing their out-of-pocket costs. The policy change is limited to tax relief for specific items and does not alter education funding or curriculum.

Topics ✓ Budget & TaxesSupports Budget & TaxesReinstates sales tax exemption for school supplies, reducing tax burden on families. Direct tax relief aligns with support indicators for middle-income tax relief.95% confidence ✓ EducationSupports EducationTax exemption for school supplies reduces family costs, supporting educational access without altering funding or curriculum.85% confidence

Sub-Topics Procurement Sales Tax Tax Incentives Curriculum

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in committee · North Carolina · Senate Mar 26, 2025

SB 641: Reenact Child Tax Credit.

SB 641 reenacts North Carolina's refundable child tax credit, providing financial support to low- and moderate-income families with children. It offers $1,900 annually for each child under age 6 and $1,600 for older qualifying children, with credit amounts phasing out based on income (e.g., married couples filing jointly receive full credit up to $40,000 AGI, reduced to $100 between $40,000-$100,000, and none above $100,000). The credit is refundable, meaning families may receive a cash payment if the credit exceeds their state tax liability. This policy directly affects North Carolina households with children who meet income thresholds, aiming to reduce child poverty by supplementing family income. The bill takes effect for tax years beginning January 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesReenacts refundable child tax credit for low/moderate-income families, providing direct tax relief and increasing disposable income through targeted fiscal policy.95% confidence

Sub-Topics Tax Credits

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in committee · North Carolina · Senate Mar 26, 2025

SB 649: Restore Master's Pay for Teachers and ISP.

SB 649 reinstates education-based salary supplements for North Carolina public school teachers and instructional support personnel (ISP) who hold master's or doctoral degrees. It directs the State Board of Education to use the 2013 policy (TCP-A-006) to determine eligibility for the "M" salary schedule and degree-related pay supplements. The bill appropriates $8 million in recurring state funds for the 2025-2026 fiscal year to cover these reinstated supplements. This policy change directly affects educators with advanced degrees by restoring previously eliminated pay incentives tied to their academic credentials.

Topics ✓ Budget & TaxesSupports Budget & TaxesAppropriates $8M recurring state funds for teacher salary supplements, directly increasing budget allocation for education personnel per bill's funding mandate.95% confidence ✓ EducationSupports EducationReinstates master's degree pay supplements for teachers and ISP with $8M funding, directly supporting educator compensation and retention.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentRestores salary supplements for teachers/staff with advanced degrees, appropriating $8M to increase compensation for state education employees under employment/compensation policies.95% confidence

Sub-Topics Teachers

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in committee · North Carolina · Senate Mar 26, 2025

SB 644: Green Schools Save Money.

SB 644 allocates $1.5 billion to North Carolina public schools for energy efficiency upgrades, solar panel installations, and replacing combustion-powered school buses with electric models. The bill provides specific funding: $1 billion for building improvements like high-efficiency lighting and HVAC upgrades, $250 million for solar panels on school rooftops, and $250 million to replace qualifying buses (over 10 years old and using motor fuel) with electric buses assembled in North Carolina. These changes directly affect all local school districts through funding tied to student enrollment, aiming to reduce energy costs and emissions. The program begins July 1, 2025, with concrete, measurable infrastructure changes as the core mechanism.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill allocates $1.5B in state funds for school energy upgrades and electric buses, directly increasing public education budget spending.95% confidence ✓ EducationSupports EducationAllocates $1.5B for school infrastructure upgrades (HVAC, lighting, solar) and electric buses - directly funds K-12 school facilities under Education subjects.95% confidence ✓ EnergySupports EnergyAllocates $1.5B for solar panels, building efficiency, and electric school buses, directly advancing renewable energy and reducing fossil fuel dependence in public schools.95% confidence ✓ EnvironmentSupports EnvironmentAllocates $1.5B for solar panels, electric buses, and energy efficiency - directly reduces emissions and promotes clean energy per bill's funding breakdown and environmental subjects.95% confidence ✓ TechnologySupports TechnologyFunds solar panels (alternative energy tech) and electric buses (EV technology), directly advancing tech infrastructure in schools per bill's allocation.95% confidence ✓ TransportationSupports TransportationBill allocates $250M to replace combustion school buses with electric models (assembled in NC), directly advancing sustainable transportation infrastructure and vehicle regulations per subjects list.95% confidence

Sub-Topics Energy Efficiency Solar

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in committee · North Carolina · Senate Mar 26, 2025

SB 660: Honoring Sacrifice: NC Veterans Relief Act.

SB 660 increases the property tax exemption for disabled veterans in North Carolina from $45,000 to $75,000 of home value, effective for taxes starting July 2025. It also allows 100% disabled veterans to exclude their primary vehicle from property tax and creates a prequalification process to determine eligibility before purchasing a home. Local governments will be reimbursed by the state for 50% of revenue losses from these exemptions, capped at 1% of their general fund revenue. The bill directly affects North Carolina residents who are 100% disabled veterans or surviving spouses of such veterans.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases property tax exemption for disabled veterans (lower-income group) and reimburses local governments for revenue loss, promoting fiscal responsibility and tax relief.90% confidence ✓ VeteransSupports VeteransIncreases disabled veterans' property tax exemption from $45k to $75k, excludes vehicles, and creates prequalification - direct benefit expansion for veterans.95% confidence

Sub-Topics Procurement Property Tax Tax Incentives Memorials & Recognition Veteran Benefits Veteran Housing

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