NC S708

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

Reenacts the state child tax credit with increased amounts ($250 for lower incomes, $125 for middle incomes per qualifying child), making the credit refundable beginning tax year 2025

Raises the state minimum wage from $6.15 to $15.00 per hour effective September 1, 2025, and authorizes local governments to set higher local minimum wages

Creates a homebuyers' assistance program for first-time homebuyers who are public servants (teachers, law enforcement, firefighters, EMS, veterans, active military), providing up to $25,000 or 10% of purchase price for down payments and closing costs, with $150 million appropriated

Establishes a paid family and medical leave insurance program beginning January 2026, providing up to 18 weeks for personal serious health conditions, 12 weeks for family caregiving or new child bonding, and 26 weeks for military caregiver leave, funded through payroll contributions with employers and employees each paying up to 50%