Bill > S708

This bill, titled the Working Families Act, introduces several significant changes to support working families in North Carolina. It reduces child care copayments from 10% to 7% of gross family income, reenacts the Child Tax Credit with increased benefit amounts for different income levels, and raises the statewide minimum wage to $15 per hour starting Labor Day 2025, while allowing local governments to set even higher minimum wages. The bill also expands the income eligibility limit for the Property Tax Homestead Circuit Breaker from 150% to 180% of the income eligibility limit. Additionally, it establishes a Homebuyers' Assistance Program through the North Carolina Housing Finance Agency, providing up to $25,000 or 10% of the home's purchase price in down payment and mortgage insurance assistance for first-time homebuyers who are public servants. Perhaps most significantly, the bill creates the North Carolina Paid Family Leave Insurance Act, which will provide paid family and medical leave benefits starting January 1, 2026. This program will offer up to 12-26 weeks of paid leave depending on the reason, with wage replacement rates of 90% for lower-income workers and 50% for higher-income workers, funded through employer and employee contributions. The bill also appropriates funds to support the implementation of these programs, including $150 million for the Homeownership Assistance Fund and $19-30 million for an Employer Grant Fund to help offset the costs of the paid leave program.

https://www.ncleg.gov/BillLookUp/2025/S708