Creates the Lasting Economic and Academic Prosperity (LEAP) endowment program that provides funds to the Department of Health and Human Services, Division of Child Development and Early Education (DCDEE) to support childhood development, education, and quality of life initiatives in new GS 143B-168.17. Provides goals for the LEAP program and definitions applicable to the program, including “excluded amount” which represents funds obtained by DCDEE through fundraising for the LEAP program. Requires DCDEE to administer funds as an endowment to produce investment income for LEAP goals, and requires a report to the Joint Legislative Oversight Committee on Health and Human Services and the Fiscal Research Division on or before September 15 of each fiscal year on the investment income and expenditures of the program. Specifies that DCDEE must contract with an independent investment advisor to administer the endowment. Requires that DCDEE maintain separate accounting records and not commingle funds for the program with other fund.

Enacts new GS 143C-4-2.1 (LEAP Reserve), creating a reserve in the General Fund. Specifies that each budget will include a transfer to the LEAP reserve in an amount equal to the excluded amount from GS 143B-168.17, and appropriates these transferred amounts to DCDEE for LEAP endowment purposes. Directs the Office of State Controller to make transfers to the LEAP reserve in accordance with this statute. Permits the General Assembly to transfer additional amounts to the LEAP reserve beyond what is specified in this statute. The new GS 143C-4-2.1 is effective July 1, 2025.

Appropriates $450,000 in recurring funds from the General Fund in fiscal year 2025-2026, and $475,500 in recurring funds from the General Fund for the 2026-2027 fiscal year, to DHHS to be allocated to DCDEE for fundraising efforts to support the LEAP endowment program. Expresses the General Assembly’s intent to appropriate additional amounts for at least the next 8 years with each year having a 5% increase over the previous year's appropriation.