NC H786

Reduces subsidized child care copayments from 10% to 7% of gross family income, effective July 1, 2025

Reenacts and increases the state child tax credit to $250 per qualifying child for lower-income taxpayers (up from $125), makes the credit refundable, effective for tax years beginning January 1, 2025

Raises the state minimum wage incrementally from the current federal rate to $15/hour by January 1, 2030 ($10 in 2026, $12 in 2027, $13 in 2028, $14 in 2029), with annual CPI adjustments thereafter

Creates a first-time homebuyer assistance program for public servants (teachers, law enforcement, firefighters, EMS, veterans) providing up to $25,000 or 10% of purchase price for down payments and closing costs, with $150 million in recurring annual funding

Establishes the North Carolina Paid Family Leave Insurance Act effective January 1, 2026, providing up to 18 weeks of paid leave for personal serious health conditions, 12 weeks for family care/new child, and 26 weeks for military caregiver leave, funded through employer/employee payroll contributions with $49 million appropriated to offset employer costs