the federal law banning schools from committing sex discrimination.

Yes. North Carolina is an “at will” employment state and offers limited protection for all workers. State law has never included protections for workers who are LGBT. The language in HB2 makes it more clear that the state does not intend to create a new class of protections based on sexual orientation or identity, and also will not allow cities and counties to create such a protected class.

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There is no federal law that specifically prohibits discrimination against LGBT citizens in their jobs. The Employment Nondiscrimination Act that would do so has been proposed for many years, but has not passed.

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DISCRIMINATION. This entry includes 6 subentries: Age Disabled Race Religion Sex Sexual Orientation. Age. Age discrimination is …
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The ruling by U.S. District Judge Reed O’Connor, who is hearing the lawsuit by the 21 states, dealt a setback to the government’s argument that Title IX anti-discrimination protections apply to transgender students. It also moves the battle over transgender rights one procedural step closer to a showdown in the Supreme Court.

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Update: On March 30, 2017, the N.C. General Assembly approved a that repealed House Bill 2 but restricts anti-discrimination ordinances in cities and counties. Gov. Roy Cooper signed the measure into law. The story below follows HB2 from its passage.