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Last Action

Ref to the Com on Appropriations, if favorable, Finance, if favorable, Rules, Calendar, and Operations of the House2026-04-22

Vote Breakdown

No floor votes recorded.

Plain Language Summary

This bill creates a state matching program that provides up to $100 in matching funds for every $50 contributed to education savings accounts for children 14 and younger from low-income families (up to 250% of federal poverty level), with a maximum match of $1,500 per student. It also allows North Carolina taxpayers to deduct up to $2,000 per year (or $4,000 for married couples) in contributions to these education savings accounts from their state income taxes.

Arguments in Favor

• •Supporters argue this bill helps low-income families save for their children's education by effectively doubling their savings contributions through the state match, removing a major barrier to college affordability.
• •The tax deduction provides additional incentive for families to save for education expenses, giving them more control over funding their child's future schooling while building financial discipline and savings habits early.

Arguments Against

• •Opponents may contend that the $180,000 annual appropriation represents a significant state expense that could be used for other education priorities like K-12 funding or need-based grants.
• •They might also argue the benefits primarily reach families already capable of saving money, and question whether a 2-to-1 match is the most cost-effective way to improve college access compared to direct aid programs.