NC S575

Increases the capital improvement project threshold for community colleges from $1 million to $4 million for State-funded projects and allows delegation to qualified colleges with State Building Commission approval.

Permits community colleges to transfer equipment titled to the State Board at no cost without approval from the State Board or Department of Administration.

Expands investment authority for community colleges to include securities registered with the SEC or North Carolina Secretary of State and requires establishment of an Investment Committee with financial expertise.

Increases the construction project cost limit for UNC and community colleges to use their own employees from $200,000 to $500,000 for total project costs and from $100,000 to $300,000 for labor costs.

Grants UNC Board of Governors authority to approve capital projects funded entirely with non-General Fund sources and allocate Reserve for Repairs and Renovations funds with 60-day reporting requirement to the Joint Legislative Commission on Governmental Operations.

Waives feasibility certification requirements for UNC capital projects where advance planning has not been completed.

Allows UNC chancellors to approve up to $1 million per project for facility repairs, maintenance, and equipment using available operating funds.

Authorizes UNC constituent institutions to self-perform energy conservation measures with energy savings used to secure and repay debt.

Makes all UNC employees exempt from the State Personnel Act effective January 1, 2012, subject directly to Board of Governors employment policies.

Reduces the required break in service for retirees returning to work at UNC or community colleges from six months to three months while maintaining retirement benefits.