NC H1010

Establishes the "Build NC Bond Act of 2018" authorizing special indebtedness (Build NC Bonds) to finance transportation capital projects through the Department of Transportation.

Allocates Build NC Net Proceeds with 50% (within 2% variance) for Division Need Projects and the remainder for Regional Impact Projects, consistent with the Strategic Transportation Investments Act.

Imposes issuance restrictions including: maximum $3 billion total outstanding debt, $300 million per fiscal year limit, requirement that Department's cash balance be $1 billion or less, and State Treasurer recommendation with legislative consultation at least 6 months prior.

Limits Build NC Bond maturity to 15 years (compared to 40 years for other bonds) and requires Highway Trust Fund appropriations for debt repayment; prohibits use for non-highway projects or tolling projects.

Sunsets December 31, 2028; requires State Treasurer to submit a debt management plan report to the Joint Legislative Transportation Oversight Committee by July 1, 2019.