Appropriates the following amounts in recurring funds from the General Fund to the Department of Health and Human Services, Division of Child Development and Early Education (Division), to increase funding for the North Carolina Prekindergarten (NC Pre-K) program: (1) $87,877,017 for 2023-24; (2) $104,582,345 for 2024-25; (3) $121,287,673 for 2025-26; (4) $137,991,673 in 2026-27; and (5) $154,695,673 for 2027-28 and in subsequent fiscal year thereafter. Requires for the 2023-24 fiscal year, that the Division raise the base reimbursement rates for child care centers, public schools, and Head Start Centers participating in the NC Pre-K program by 3%.  

Appropriates the following amounts from the General Fund to the Division to increase funding for the North Carolina Partnership for Children, Inc: (1) $167,013,453 for 2023-24; (2) $187,013,453 for 2024-25; (3) $207,013,453 for 2025-26; (4) $227,013,453 for 2026-27; and (5) $247,013,453 for 2027-28.

Appropriates from the General Fund to the Division $267,013,453 for 2028-29 and each subsequent fiscal year thereafter.

Effective July 1, 2023.

Enacts new GS 105-153.11 providing an income tax credit for eligible early education teachers or directors with the amount of the credit a sum of two amounts that vary depending on years of service uninterrupted by more than six months and on education level obtained. Effective for taxable years beginning on or after January 1, 2024 and repealed effective for taxable years beginning on or after January 1, 2028.