North Carolina legislation · 2025-2026 Session
North Carolina S1016: Fair Share for Public Schools Act.
Status: In committee, May 4, 2026
What the bill says
An act to impose a seven percent income tax on income that exceeds one million dollars and to distribute those proceeds to the public school fund.
From the introduced text:
A BILL TO BE ENTITLED AN ACT TO IMPOSE A SEVEN PERCENT INCOME TAX ON INCOME THAT EXCEEDS ONE MILLION DOLLARS AND TO DISTRIBUTE THOSE PROCEEDS TO THE PUBLIC SCHOOL FUND. The General Assembly of North Carolina enacts: SECTION 1. G.S. 105-153.7 reads as rewritten: "§ 105-153.7. Individual income tax imposed. (a) Tax. - A tax is imposed for each taxable year on the North Carolina taxable income of every individual. The tax shall be levied, collected, and paid annually. Except as otherwise provided in subsection (a1) subsections (a1) and (a2) of this section, the tax is a percentage of the taxpayer's North Carolina taxable income computed as follows: ... (a2) Rate on High Income. - A tax is imposed for each taxable year on the North Carolina taxable income of every individual that exceeds one million dollars ($1,000,000) at a rate of seven percent (7%). The tax imposed under this subsection shall be levied, collected, and paid annually. The rate reduction trigger under subsection (a1) of this section shall not apply to the tax rate imposed under this subsection. Annually, the Secretary shall distribute the taxes collected under this subsection, less the Department of Revenue's allowance for administrative expenses associated therewith, to the State Public School Fund for allotment by the State Board of Education, on behalf of the …
Sponsors
- Chitlik, Sophia (D, 22) · primary sponsor
- Garrett, Michael (D, 27) · primary sponsor
- Smith, Kandie D. (D, 5)
- Waddell, Joyce (D, 40)
Latest actions
- : Ref To Com On Rules and Operations of the Senate
- : Passed 1st Reading
- : Filed
Subjects: BUDGETING, ELEMENTARY EDUCATION, EDUCATION, REVENUE DEPT., KINDERGARTEN, Higher education-research funding., LOCAL GOVERNMENT, BOARDS
Common questions
- What is S1016?
- S1016 is a bill in the North Carolina Legislature (2025-2026 Session): Fair Share for Public Schools Act.
- What does S1016 do?
- In its own words: An act to impose a seven percent income tax on income that exceeds one million dollars and to distribute those proceeds to the public school fund.
- What is the status of S1016?
- In committee as of May 4, 2026. Latest action: Ref To Com On Rules and Operations of the Senate (May 4, 2026).
- Who sponsored S1016?
- Chitlik, Sophia (D, 22), with 3 co-sponsors.
- Where is the official record for S1016?
- On the North Carolina Legislature website: https://www.ncleg.gov/BillLookUp/2025/S1016
Source: official North Carolina record. Tracked by Delilah, AI for legislation across all 50 states and Congress.