NC H581

Appropriates $673.6 million in recurring funds for fiscal year 2023-2024 to implement a new monthly teacher salary schedule ranging from $4,100 (0 years experience) to $6,000 (28+ years experience), plus various supplements for certifications and advanced degrees.

Awards state employees, community college employees, and UNC system employees a 5% salary increase effective July 1, 2023, and a 3% cost-of-living adjustment effective July 1, 2024, with appropriations totaling $1.24 billion for both fiscal years combined.

Increases retention pay percentages for state employees (ranging from 1.0% to 4.5% based on years of service) and provides retention bonuses of $500 per employee in November 2023 and April 2024, with additional $250 bonuses for employees earning under $75,000 annually.

Provides retirees of the Teachers' and State Employees' Retirement System, Consolidated Judicial Retirement System, and Legislative Retirement System with a 2% cost-of-living increase effective July 1, 2023, plus one-time supplemental payments of 2% (September 2023) and 1% (September 2024).

Appropriates $22.7 million (FY 2023-24) and $36.3 million (FY 2024-25) to expand the Child Care WAGE$ program statewide and creates a tax credit for small businesses with $8 million or less in annual receipts equal to the lesser of 5% of wages paid or $10,000.