NC S480

Authorizes University of North Carolina constituent institutions to acquire or construct specific capital improvement projects and finance them through non-General Fund sources including gifts, grants, revenue bonds, and special obligation bonds.

Allocates funding for 15 capital projects across 9 UNC institutions, including $90 million for a student center at North Carolina A&T, $71.6 million for East Carolina University's Women and Children's Clinic, and $67 million for UNC Greensboro's Spartan Village acquisition, totaling approximately $437.6 million.

Requires the UNC Board of Governors to submit detailed estimates to the Joint Legislative Commission on Governmental Operations by October 1, 2013, including total project costs, funding sources, financing terms, and anticipated operating costs for five fiscal years.

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

Permits Winston-Salem State University to acquire Bowman Gray Stadium for racing events through direct ownership or long-term agreement with the City of Winston-Salem, subject to requirements maintaining the stadium's name, parking, and current racing operations, and allows beer and wine sales at NASCAR-sanctioned short track racing events.