The budget ends a lengthy stalemate in the General Assembly and outlines spending priorities across education, health care, disaster recovery and state government.
The agreement aims to provide significant raises for teachers and law enforcement, and includes a drop in personal income-tax rates.
Gun violence prevention groups in North Carolina oppose "constitutional carry" as the legislature considered a veto override attempt.
"I didn't leave the Democratic Party. The Democratic Party left me."
The money is intended to keep pace with rising health care costs and enrollment while addressing waste and preventing fraud.
State lawmakers are due back in the General Assembly for the start of the short session in April.