SB 1016 North Carolina Senate · 2025-2026 Session

Fair Share for Public Schools Act.

This bill introduces a new 7% state income tax specifically on earnings that exceed $1 million. The revenue generated from this tax, after deducting administrative costs, will be sent directly to the Public School Fund to support local schools. The law applies to individual taxpayers and is scheduled to take effect for tax years starting on or after January 1, 2026.

Bill status in committee 1 of 4 stages cleared

Introduction

Apr 2026

Committee Review

Floor Vote

Governor

Introduced Apr 30, 2026 Last action May 4, 2026

Maddy AI version diff · 1 comparison

What changed between versions

Filed → Edition 1 · 3 edits

MINOR

The bill's header was updated to reflect a formal revision (Edition 1) with a new version number, while the filing date was changed from April 30, 2026, to May 4, 2026. The bill was also referred to the Rules and Operations of the Senate committee instead of remaining unassigned. These changes appear to be administrative updates regarding the bill's status and committee assignment rather than substantive policy modifications.

TIMELINE

The filing date was updated from April 30, 2026, to May 4, 2026.

REQUIREMENT

The bill was referred to the Rules and Operations of the Senate committee.

TECHNICAL

The document version identifier was changed from a draft code to a formal revision number.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

May 4, 2026

Committee

Ref To Com On Rules and Operations of the Senate

upper

Apr 30, 2026

Introduced

Filed

upper

1 primary · 3 co-sponsors