summary
Introduced
03/25/2025
03/25/2025
In Committee
03/26/2025
03/26/2025
Crossed Over
Passed
Dead
Introduced Session
2025-2026 Session
Bill Summary
AN ACT TO MEASURE THE ECONOMIC PROGRESS AND WELL-BEING OF THE STATE. Whereas, North Carolinians have prioritized their economic well-being and its advancement as essential work of our State lawmakers; and Whereas, public policy choices can create the conditions for economic security and progress; and Whereas, the State's overall economic progress depends on the well-being of its people and communities; and Whereas, policymakers should monitor the impact of public policy choices on the well-being of people across the State and economic progress by the assessments of people and communities rather than markets and productivity alone; and Whereas, the NC General Assembly should strive to conduct its work to advance for every person in North Carolina, and Whereas, it is essential to have a well-rounded opportunity to have economically safe, stable and secure lives, including (i) access to jobs that pay enough to ensure a standard of living where a person can get ahead and a high level of life satisfaction, (ii) affordable prices for the basics like food, housing, health care and child care, (iii) access to the education and training that supports mobility, opportunity and participation in civic life, (iv) opportunity to start and expand business free from unfair competition and domination by monopolies and other unfair advantage for certain kinds of businesses, (v) a community of opportunity free from concentrated disadvantage, toxic exposures and connected to supports to learn, earn and live a healthy life, and (vi) adequate protection from the economic fears of old age, sickness, climate disaster, and unemployment; Now, therefore,
AI Summary
This bill establishes a biennial economic progress analysis program within the North Carolina Department of Commerce, appropriating $200,000 annually for fiscal years 2025-2027. The Department will be required to conduct comprehensive economic well-being assessments, reporting findings to the General Assembly by January 31 of every odd-numbered year. The analysis must utilize publicly available data and include interviews with people from diverse socio-economic backgrounds, focusing on six key metrics: (1) hardship levels including various poverty measurements, (2) job quality examining wages and benefits, (3) household spending on essential needs like food, housing, healthcare, and childcare, (4) cost burden percentages for housing, childcare, and healthcare, (5) post-secondary education and job training costs relative to income, and (6) detailed mapping of persistent and concentrated poverty neighborhoods. The goal is to provide a more holistic view of economic progress that goes beyond traditional market metrics and focuses on the lived experiences and economic security of North Carolina residents. The bill will become effective on July 1, 2025, enabling the state to begin these comprehensive economic assessments in the upcoming fiscal year.
Committee Categories
Budget and Finance
Sponsors (8)
Graig Meyer (D)*,
Gladys Robinson (D)*,
DeAndrea Salvador (D)*,
Sydney Batch (D),
Jay Chaudhuri (D),
Julie Mayfield (D),
Kandie Smith (D),
Joyce Waddell (D),
Last Action
Re-ref Com On Appropriations/Base Budget (on 03/26/2025)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.ncleg.gov/BillLookUp/2025/S732 |
| BillText | https://www.ncleg.gov/Sessions/2025/Bills/Senate/PDF/S732v1.pdf |
| BillText | https://www.ncleg.gov/Sessions/2025/Bills/Senate/PDF/S732v0.pdf |
Loading...