NC S476

Establishes tuition grants for North Carolina residents who graduate from the North Carolina School of Science and Mathematics and enroll full-time at University of North Carolina constituent institutions.

Sets maximum grant amount at $5,000 per semester, with annual increases of 2% when tuition rates increase, provided total aid does not exceed the student's cost of attendance at in-state tuition rates.

Designates the State Education Assistance Authority to administer grants through established guidelines, application processes, and procedures consistent with other state-funded financial aid programs.

Creates the North Carolina Tuition Grant Fund with up to 5% of appropriated funds allowed for administrative costs, and establishes refund procedures for students who withdraw.

Appropriates $200,000 for fiscal year 2017-2018 and $2,500,000 for fiscal year 2018-2019, with implementation beginning August 1, 2018.