NC S521

Allows the Department of Transportation to enter into partnership agreements with private entities for toll-funded transportation projects, removing the previous single-project pilot limitation.

Requires private entities and their contractors to provide performance and payment security in forms acceptable to the Department, including bonds, letters of credit, parent guaranties, or other instruments.

Permits private entities to assign, transfer, or sell their rights and interests in partnership agreements to lenders, bondholders, or other parties without creating additional debt obligations for the State of North Carolina.

Establishes that Article 6H of Chapter 136 of the General Statutes governs toll collection authority for both the Department and private entities, allowing the Department to assign its toll-fixing and collection authority to private entities.

Effective upon enactment into law.