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Primary Sponsor

Last Action

Re-ref Com On Appropriations/Base Budget2026-05-07

Vote Breakdown

No floor votes recorded.

Plain Language Summary

This bill creates a state program to contribute $1,000 to Trump Accounts (a new federal retirement savings account) for eligible North Carolina children born between January 1, 2025 and December 31, 2028 whose families earn up to 300% of the federal poverty line. It also redirects $192 million from the Opportunity Scholarship Grant Fund Reserve to finance this program and changes the priority order for awarding remaining opportunity scholarships in 2026-2027.

Arguments in Favor

• •Supporters argue this bill helps low- and moderate-income families build long-term savings and financial security for children by providing an immediate $1,000 contribution to retirement accounts that grow tax-free over decades.
• •They contend this creates wealth-building opportunities for disadvantaged youth and complements federal efforts to expand financial inclusion through the new Trump Account program.

Arguments Against

• •Opponents argue that redirecting $192 million from the Opportunity Scholarship program reduces funding available for immediate college tuition assistance for current students in need.
• •They contend that prioritizing a new long-term savings program over existing education scholarships disadvantages students seeking to attend college in the 2026-2027 school year and may disproportionately affect those who need financial aid soon.