North Carolina legislation · 2025-2026 Session
North Carolina S967: Budget Requirement for Tax Triggers.
Status: In committee, May 4, 2026
What the bill says
An act to disallow tax rate modifications in the absence of a comprehensive budget spending plan.
From the introduced text:
A BILL TO BE ENTITLED AN ACT TO DISALLOW TAX RATE MODIFICATIONS IN THE ABSENCE OF A COMPREHENSIVE BUDGET SPENDING PLAN. The General Assembly of North Carolina enacts: SECTION 1. G.S. 105-153.7(a1) reads as rewritten: "(a1) Rate Reduction Trigger. - Notwithstanding the tax rates set out in subsection (a) of this section, if the General Assembly has ratified a Current Operations Appropriations Act, as defined in G.S. 143C-1-1, by July 1 of the fiscal year set out below and if total General Fund revenue in a that fiscal year set out below exceeds the trigger amount indicated for that fiscal year, then the applicable tax rate for the indicated and subsequent tax years shall be equal to the greater of (i) the prior taxable year's rate decreased by one-half percentage point (0.50%) or (ii) two and forty-nine hundredths percent (2.49%). For purposes of this subsection, total General Fund revenue is the amount stated in the final accounting of total General Fund Reverting Net Tax and Non-Tax Revenues for the fiscal year, as reported by the Office of State Controller in August following the end of the fiscal year. Fiscal Year Trigger Amount Taxable Year Beginning FY 2025-2026 $33,042,000,000 In 2027 FY 2026-2027 $34,100,000,000 In 2028 FY 2027-2028 $34,760,000,000 In 2029 FY 2028-2029 $35,750,000,000 In 2030 FY 2029-2030 $36,510,000,000 In 2031 …
Sponsors
- Grafstein, Lisa (D, 13) · primary sponsor
- Garson, Jonah (D, 23) · primary sponsor
- Batch, Sydney (D, 17)
Latest actions
- : Ref To Com On Rules and Operations of the Senate
- : Passed 1st Reading
- : Filed
Subjects: BUDGETING, PUBLIC, TAXES, CORPORATE INCOME, TAXATION, CORPORATIONS, FOR-PROFIT
Common questions
- What is S967?
- S967 is a bill in the North Carolina Legislature (2025-2026 Session): Budget Requirement for Tax Triggers.
- What does S967 do?
- In its own words: An act to disallow tax rate modifications in the absence of a comprehensive budget spending plan.
- What is the status of S967?
- In committee as of May 4, 2026. Latest action: Ref To Com On Rules and Operations of the Senate (May 4, 2026).
- Who sponsored S967?
- Grafstein, Lisa (D, 13), with 2 co-sponsors.
- Where is the official record for S967?
- On the North Carolina Legislature website: https://www.ncleg.gov/BillLookUp/2025/S967
Source: official North Carolina record. Tracked by Delilah, AI for legislation across all 50 states and Congress.