Amends GS Chapter 105 by creating a new section GS 105-159.3 (Designation of tax to NC Veterans Fund), providing that the Department of Revenue (Department) must allocate to the NC Veterans Fund $5 from the income taxes, totaling at least $5, paid by each individual, if that individual agrees. A taxpayer must be given the opportunity to indicate an agreement or objection to that allocation.

The opportunity to allocate the money must be clear to the individual and it must be clear the tax dollars will support a nonpartisan veterans' support system and that the allocation will not affect tax liability of the taxpayer. Also specifies the language that must be used in presenting the opportunity to allocate money to the Fund.

Entities reproducing the tax returns must comply with the requirements of this section. The actual taxpayer must decide whether to agree to the allocation or object to it. No software package used in preparing NC tax returns can default to an agreement or objection.

Includes explanatory statements that must be used in describing the allocation.

Amends GS Chapter 165 by creating a new section GS 165-44.01 (North Carolina Veterans Fund), providing for the creation of the NC Veterans Fund. Defines the term veteran for use in this section.  Includes the seven purposes of the Fund, including to aid homeless veterans and to fund mental health service programs for veterans.

Establishes a Veterans Fund Advisory Committee, providing that each county can create such a committee which will consist of up to five representatives from veterans' organizations or service organizations in that county. Provides how the Committee will be established and that it will act independently thereafter.

Establishes rules for the disbursement and allocation of moneys from the fund, requiring at least 90% of the funds collected from a county to return to that same county.