Titles the act the Michael Jordans of Tomorrow Act. Sets forth four findings by the General Assembly in relation to Name, Image, and Likeness (NIL) compensation in the State.

Enacts Article 39 (concerning student-athletes) to GS Chapter 116, as follows. Defines five terms, including NIL (the use of a student's name, image, or likeness for commercial purposes and in exchange for compensation to the student. Compensation may include cash, in-kind gifts, or other tangible benefits to the student) and constituent institution (a UNC constituent institution). Allows a constituent institution to assist a student-athlete in securing one or more NIL agreements in GS 116-411 by facilitating introductions between student-athletes and potential sponsors, providing NIL education and contract review assistance, and partnering with businesses and collectives to promote NIL deals. Prevents a constituent institution from directly compensating a student-athlete for athletic performance or participation. Allows a constituent institution to collaborate with the NIL Clearinghouse to provide support to students when entering NIL agreements. Authorizes student-athlete compensation by a constituent institution in GS 116-412 for participating in interscholastic athletics at that institution in addition to any other benefits provided to student-athletes. Authorizes a constituent institution to allocate up to $20.5 million per year from interscholastic athletics revenues (defined) for direct compensation to student-athletes. Provides for an annual report to the specified NCGA committee and the Department of Commerce (DOC) on the matters described. Requires a constituent institution to collaborate with DOC to ensure direct compensation of student-athletes provided in accordance with this statute complies with federal and State law and any other applicable rule or policy.

Allows for NIL compensation in line with Article 29E of GS Chapter 115C to be deducted from a taxpayer’s annual gross income under GS 105-153.5. Enacts GS 105-153.12, allowing a taxpayer who is an eligible business (one that has entered into an NIL agreement with a student-athlete) to claim a nonrefundable credit against its taxes that is equal to 50% of the compensation paid by the business to the student-athlete, but capped at $500,000 per tax year. Provides for rules for allocation, including to pass-through entities. Effective for taxable years beginning on or after January 1, 2026.   

Enacts GS 116-413, requiring the UNC Board of Governors to establish the NC NIL Advancement Fund (Fund) to provide matching funds with NIL collectives to support NIL agreements, with prioritization to the following:

• Student-athletes who qualify for in-State tuition and in accordance with the coordinated and centralized residency determination process administered by the State Education Assistance Authority.
• Student-athletes who have officially committed to that constituent institution.
• NIL agreements involving local businesses and tourism boards.

Authorizes high school students participating in interscholastic athletics to enter into NIL agreements in GS 115C-407.56, subject to six conditions, including that the agreement cannot condition the receipt, type, or extent of any compensation to the student on the extent or quality of the student's athletic performance or their current or future enrollment a specific institution, that the student’s parent or guardian be party to the agreement if the student is under eighteen, and that the student is provided financial literacy resources by either their school or the NIL Clearinghouse.  Makes conforming changes to GS 115C-407.50 (definitions pertaining to interscholastic athletics) and GS 115C-407.55 (rules for interscholastic athletics). Applies beginning with the 2025-2026 school year.

Establishes the NIL Clearinghouse in GS 143B-437.022, administered by DOC to do the following:

• Educate student-athletes and their families about NIL agreements.
• Assist student-athletes in reviewing NIL agreements and navigating the NIL process.
• Facilitate State-endorsed NIL partnerships by prioritizing student-athletes attending in-State colleges.
• Provide grants to student-athletes who commit to in-State colleges capped at the lesser of the amount received by the student-athlete as compensation under an NIL agreement or $5,000.

Requires DOC to review all NIL agreements paying more than $5,000 to ensure the agreement (1) affords the student-athlete fair market value compensation, (2) complies with the requirements governing NIL agreements, and (3) provides any other relevant protections DOC deems necessary to promote the well-being of the student-athlete. Allows DOC to hire or contract for staff to accomplish the purposes set forth in GS 143B-437.022 and to use up to 5% of appropriated funds for administrative purposes. Requires DOC to adopt rules to implement GS 143B-437.022.  

Appropriates $10 million from the General Fund to DOC for 2025-26 to be used for purposes consistent with new Article 39, described above. Effective July 1, 2025.

Establishes the six-member Joint Legislative Study Committee on Name, Image, and Likeness Revenue Sharing (Committee) to study and make recommendations on the four specified matters related to NIL and student-athletes. Provides for meetings, expenses, professional and clerical staff, quorum, and appointment of chairs. Directs the Committee to submit a final report on the results of its study to the General Assembly on or before March 31, 2026, as described. Sunsets the Committee upon the earlier of the filing of its final report or March 31, 2026.