AN ACT to measure the economic progress and well‑being of the State.

Whereas, North Carolinians have prioritized their economic well‑being and its advancement as essential work of our State lawmakers; and

Whereas, public policy choices can create the conditions for economic security and progress; and

Whereas, the State's overall economic progress depends on the well‑being of its people and communities; and

Whereas, policymakers should monitor the impact of public policy choices on the well‑being of people across the State and economic progress by the assessments of people and communities rather than markets and productivity alone; and

Whereas, the NC General Assembly should strive to conduct its work to advance for every person in North Carolina, and

Whereas, it is essential to have a well‑rounded opportunity to have economically safe, stable and secure lives, including (i) access to jobs that pay enough to ensure a standard of living where a person can get ahead and a high level of life satisfaction, (ii) affordable prices for the basics like food, housing, health care and child care, (iii) access to the education and training that supports mobility, opportunity and participation in civic life, (iv) opportunity to start and expand business free from unfair competition and domination by monopolies and other unfair advantage for certain kinds of businesses, (v) a community of opportunity free from concentrated disadvantage, toxic exposures and connected to supports to learn, earn and live a healthy life, and (vi) adequate protection from the economic fears of old age, sickness, climate disaster, and unemployment; Now, therefore,

The General Assembly of North Carolina enacts:

SECTION 1.  There is appropriated from the General Fund to the Department of Commerce the recurring sum of $200,000 for each fiscal year of the 2025‑2027 fiscal biennium to conduct bi‑annual analyses of Economic Progress in North Carolina. The Department shall report the results of the analyses to the General Assembly no later than January 31 of every odd‑numbered year, and each report shall meet all of the following requirements:

(1)        Utilize publicly available data and interview people of various socio‑economic backgrounds.

(2)        Measure, for the State and each county, at least the following metrics:

a.         Hardship, as measured by the poverty rate, child poverty, deep poverty, inequality, and the supplemental poverty rate.

b.         Share of jobs that (i) pay below a living income wage and (ii) provide basic needs and quality conditions and benefits.

c.         Share of a household's monthly income that goes to food, housing, health care, and childcare.

d.         Percent of people who are considered cost burdened based on the amount of income spent on housing, childcare, and health care premiums.

e.         Cost of post‑secondary education and job training relative to income.

f.          Persistent poverty census tracts and concentrated poverty census tracts, including the number of people living in persistent and concentrated poverty neighborhoods.

SECTION 2.  This act becomes effective July 1, 2025.