Enacts GS 126-8.6, directing the State Human Resources Commission (Commission) to adopt rules and policies that provide that a permanent, full-time State employee can take up to eight weeks of paid parental leave in addition to any other available leave, so long as the employee is continuously employed for at least 12 months preceding the first request for paid parental leave. Provides for prorated leave for part-time employees of up to four weeks in addition to any other available leave. Specifies that the authorized leave is provided for birth of the parent's child and to care for the newborn or for placement and adoption of a child and time for bonding; is available without exhaustion of the employee's earned leave; is in addition to shared leave or other leave authorized by federal or state law; cannot be used for retirement purposes; and has no cash value upon termination. Defines the scope of the act to include all State employees and all State-supported personnel with the appropriate governing board adopting rules and policies consistent with the act. Directs the Commission, named state entities and all State agencies, departments, and institutions to annually report to the Office of State Human Resources on the paid parental leave program beginning May 1, 2024. 

Amends GS 126-5 to explicitly make the provisions of new GS 126-8.6 applicably to all State employees, public school employees, and community college employees. 

Appropriates $10 million in recurring funds for each year of the 2023-25 fiscal biennium from the General Fund to a Reserve for Compensation to fund the paid parental leave program.

Effective July 1, 2023.