NC S362

Repeals and replaces North Carolina's current nurse licensure compact with a new interstate compact allowing registered nurses (RN) and licensed practical/vocational nurses (LPN/VN) to practice across multiple party states under a single multistate license issued by their home state.

Establishes the Interstate Commission of Nurse Licensure Compact Administrators to oversee the compact, create uniform rules, manage a coordinated licensure information system for tracking nurse licenses and disciplinary actions, and facilitate dispute resolution among party states.

Requires nurses to meet uniform standards including criminal background checks, NCLEX examination passage, English proficiency if applicable, and absence of felony convictions or nursing-related misdemeanor convictions to obtain a multistate license.

Authorizes all party states to take adverse action against a nurse's multistate licensure privilege within their borders, while only the home state may take action against the license itself; requires prompt reporting of all adverse actions and investigations to the coordinated system.

Becomes effective when at least 26 states enact this compact or December 31, 2018, whichever occurs first, with provisions allowing states to withdraw after six months and recognizing licenses issued under the prior nurse licensure compact.