Governor Roy Cooper vetoed H.B. 10, a bill that proposes adjustments to the state budget for FY2024-25, effective from July 1. The NC Senate and House of Representatives approved the bill last week, which includes funding for several key priorities:
Opportunity Scholarship Program: An additional $463 million will clear the 55,000-family waitlist and provide more future funding for private school vouchers.
Education Savings Account Program: An extra $25 million will clear the waitlist for families of children with special needs.
Funding for Public Schools and Community Colleges: Increased funding will cover higher enrollment costs, though no additional pay raises beyond what was already received on July 1 for teachers or state employees were included.
Medicaid Funding: $377 million in new funds will address increased enrollment and service costs, this was about $81 million less than requested by the NC Department of Health and Human Services to cover Medicaid expenses for the current fiscal year.
Broadband Access in Rural Counties: Up to $190 million will be allocated to enhance broadband access in rural areas. This would provide critical infrastructure improvements to unserved and underserved areas, as well as, enhance connectivity and access to digital markets, especially in rural areas.
Monitoring and Updates:
Businesses should stay informed about the potential opportunities and changes from this legislation.
Legislators could vote to override Governor Cooper’s veto during their next (one-day) session on October 9.