FAIR SHARE FOR PUBLIC SCHOOLS ACT.

Printer-friendly: Click to view
View NCGA Bill Details2025-2026 Session
Senate Bill 1016 (Public) Filed Thursday, April 30, 2026
AN ACT TO IMPOSE A SEVEN PERCENT INCOME TAX ON INCOME THAT EXCEEDS ONE MILLION DOLLARS AND TO DISTRIBUTE THOSE PROCEEDS TO THE PUBLIC SCHOOL FUND.
Intro. by Chitlik, Garrett.
Status:

Bill History:

No bill history found
S 1016

Bill Summaries:

  • Bill S 1016 (2025-2026)
    Summary date: Apr 30 2026 - View Summary

    Identical to H 1073, filed on 4/29/26.

    Amends GS 105-153.7 to establish a 7% annual income tax on individual income in excess of $1 million. Excludes this tax rate from the statute's rate reduction trigger. Requires distribution of collections to the State Public School Fund for allotment by the State Board of Education to local school administrative units on a per pupil basis, less administrative expenses of collection up to $100,000, as specified. Effective for taxable years beginning on or after January 1, 2026.

    Education, Government, Tax
    GS 105
View: All Summaries for Bill