In North Carolina, some new legislation will go into force on January 1st of this year. There is a new law that will help you save more money if that is one of your New Year’s resolutions.
Here are some of the new legislation and policy changes that will take effect in North Carolina on New Year’s Day 2025.
Law Strips NC Power Brokers
Bill 382 in the Senate Helene is funded by the highly contentious measure. Additionally, it removes Attorney General Jeff Jackson, State Superintendent Maurice Green, and incoming Governor Josh Stein from office.
The bill will become law if the NC GOP supermajority overrides Governor Cooper’s veto. Josh Stein, the next governor, and outgoing governor Roy Cooper sued the bill.
Decline in Income Tax
House Bill 259 You get more money thanks to a new tax law. You typically don’t hear positive things when you think of tax laws. However, this law, which goes into effect in January, is good news for those who are frugal.
The measure included in North Carolina’s 2023 budget plan will lower the individual income tax rate from 4.5% in 2024 to 4.25% in 2025.
Every year, taxpayers will witness more declines. The income tax rate falls to 3.99% in 2026. Changes will also be made to North Carolina’s business income tax.
Changes to Auto Insurance
The state’s auto insurance regulations are updated in a number of ways under Senate Bill 452. The new law will raise the minimum liability limits for motor insurance to $100,000 for two or more persons per accident and $50,000 for one person.
Additionally, coverage for property damage will increase to $50,000.
Additionally, SB 452 modifies the calculation of underinsured motorist coverage to take into account an individual’s total damages. Better financial protection for drivers and accident victims is the goal of these modifications.
What is a juvenile?
June 2024 marked the implementation of HB 834. This amendment introduces more changes to the court transfer procedure and explicitly changes who is considered a delinquent adolescent under North Carolina law.
Any young person between the ages of 10 and 16 who violates state or local law is now considered a delinquent juvenile.
With the exception of offenses already listed elsewhere in state law and offenses that, if committed by an adult, may be classified as Class A, B1, B2, C, D, or E felonies, also come under this category for juveniles between the ages of 16 and 18.
Juveniles between the ages of 8 and 10 who commit specific felonies are likewise considered delinquents under the law.
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The cost of tickets and live entertainment
Senate Bill 607: This law mandates that ticket vendors, including as venues, promoters, and resale websites, show the entire cost of the tickets, including all required fees, at the beginning of the buying process.
With the exception of some permitted charges like delivery costs and government taxes, sellers are not permitted to raise the original price while a customer is shopping.
The law, which is applicable to all live entertainment events in North Carolina, including concerts, athletic events, and theater productions, was passed in order to minimize unexpected fees and costs that frequently surface late in the checkout process.
Violators will be subject to penalties under the state’s unfair trade practices law. Additionally, the law grants the NC Attorney General’s office the power to look into complaints and implement the new regulations.
Health Insurance for State Employees
House Bill 1020: Blue Cross NC will have a new administrator after decades of providing health insurance to state employees and retirees.
The State Health Plan in North Carolina is currently administered by Aetna as a third-party. Teachers, state workers, retirees, and their dependents are all included in this.
Their provider network will be impacted by the coverage. When a judge upheld the state’s choice to switch to Aetna, Blue Cross NC decided to dismiss its initial challenge.
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Increases in the Campaign Contribution Limit
The donation cap for North Carolina political parties and candidates will rise from $6,400 to $6,800 each election as of January 1. In any election, no political group or individual may donate more than $6,800 to a candidate committee. The contribution cap does have some exceptions.
A candidate or their spouse, for instance, is permitted to make unlimited contributions to their committee as well as to any national, state, district, or county executive committee of any political party that is recognized under the definition of “political party”; the formation of a new party (N.C.G.S. 163-96) is exempt from contribution restrictions.