Education & Transportation Bond Act of 2020

• Authorizes $3,100,000,000 in general obligation bonds, subject to voter approval in the 2020 general election, allocated as follows: $1,050,000,000 for public school facilities, $300,000,000 for community college facilities, $600,000,000 for University of North Carolina facilities, and $1,150,000,000 for transportation infrastructure.

• Requires state bonds for transportation projects to be paid from the Highway Trust Fund, and establishes that bond proceeds may not exceed $591,000,000 annually.

• Public schools receive bond allocations based on three components: average daily membership, low-wealth county factors, and a $5,000,000 base allocation per county, with counties required to provide local matching funds varying by economic development tier.

• University of North Carolina and community college projects include specific named projects (such as East Carolina's Brody School of Medicine Building for $172,000,000) or general statewide technology and facility upgrades.

• Recipients must report quarterly to appropriate legislative committees on project funding, expenditures, and completion status, with proceeds tracked by the State Treasurer for federal tax law compliance.