Revise NC 529 Program.

This bill creates a matching savings program and a tax deduction to encourage parents to save for their children's education in North Carolina. Under the new Parental Savings Trust Fund matching program, eligible parents with household incomes at or below 250% of the federal poverty guidelines can receive a $100 match for every $50 they contribute to an account for a student aged 14 or younger, with a maximum annual match of $500 and a lifetime limit of $1,500 per student. The state will fund this matching program with $180,000 in recurring money starting in the 2026-2027 fiscal year. Additionally, the bill allows taxpayers to deduct up to $2,000 from their state income taxes for contributions to these education savings accounts, with a $4,000 limit for married couples filing jointly. These provisions are designed to help low-to-moderate-income families build education funds while providing an immediate tax benefit for their contributions.