NC H904

Authorizes the University of North Carolina constituent institutions to plan and construct capital improvement projects using non-General Fund sources including gifts, grants, revenue bonds, self-liquidating indebtedness, Medicare reimbursements, and hospital receipts.

Lists 10 UNC institutions with specific capital projects and funding amounts totaling approximately $472 million, including residence halls, athletic facilities, student centers, and recreational facilities.

Allows the Director of the Budget to authorize increases or decreases in project costs or changes in funding methods upon request from the Board of Governors of UNC.

Authorizes the Board of Governors to issue special obligation bonds up to the specified project costs plus 5% for issuance expenses, reserve funds, and capitalized interest.

Effective upon enactment.