How SB 708 changes current law

Compared against the N.C. General Statutes as published AI-generated reading aid — verify against the official bill.

The bill reenacts the child tax credit and increases the state minimum wage to fifteen dollars per hour, among other provisions.

• G.S. 105-153.10

  § 105-153.10:  Repealed by Session Laws 2015-241, s. 32.13(c), effective for taxable years beginning on or after January 1, 2018. → § 105-153.10. Credit for children. (a) Credit. – A taxpayer who is allowed a federal child tax credit under section 24 of the Code for the taxable year is allowed a credit against the tax imposed by this Part for each dependent child for whom the taxpayer is allowed the federal credit.

  This change reenacts the child tax credit that was previously repealed.

• G.S. 95-25.3

  wages of at least six dollars and fifteen cents ($6.15) per hour → wages of at least fifteen dollars ($15.00) per hour

  This change increases the statewide minimum wage from $6.15 to $15.00 per hour.