Enacts new GS Chapter 96A, to be cited as the "North Carolina Paid Family Leave Insurance Act." Sets forth 15 defined terms applicable to the Chapter. Deems family and medical leave benefits provided under the terms of the Chapter payable beginning July 4, 2024, to covered individuals, defined as any person who submits an application and meets the monetary eligibility criteria set forth in GS 96-14.1(b) (regarding unemployment benefit claims) or is self-employed, elects coverage, and meets the requirements of new GS 96A-13, and meets the administrative requirements of the new Chapter and rules adopted thereunder, who meet one of five requirements, including: (1) is caring for a new child during the first year after birth, adoption, or child placement; (2) is caring for a family member with a serious health condition; (3) has a serious health condition; (4) is caring for a covered service member, as defined, who is the covered individual's next of kin or other family member; and (5) because of any qualifying exigency leave (as defined) arising out of the fact that the family member of the covered individual is on active duty or has been notified of an impending call or order to active duty in the Armed Forces. Defines family member, next of kin, and serious health condition. Specifies maximum duration of benefits based on eligibility requirement, ranging from 12 weeks to 26 weeks depending on the reason for the leave. Sets out formula for determining the amount of benefit, with the minimum weekly amount set at 20% of the state average weekly wage and the maximum set at 120% of the state average weekly wage. Allows an individual to take family and medical leave on an intermittent or reduced leave schedule.