NC H241

Authorizes issuance of $1.9 billion in general obligation bonds for North Carolina education, subject to voter approval in the 2020 presidential election.

Allocates $1.5 billion to public schools (through county grants for capital projects, repairs, and renovations), $200 million to community colleges, and $200 million to UNC system institutions.

Establishes local matching fund requirements for bond proceeds, with tier-based percentages ranging from 1:3 to 1:1 ratios depending on county development tier status; low-wealth designations exempt counties from matching requirements.

Requires quarterly reporting by school systems, community colleges, and UNC institutions to legislative committees on project costs, bond expenditures, and completion status beginning January 1, 2022.

Limits bond and note issuance to $591 million per 12-month period and establishes an Education Bonds Fund to be managed by the State Treasurer for disbursement to eligible projects.