NC S356

Authorizes issuance of $400,000,000 in Build NC Bonds for fiscal year 2019-2020 and allows Department of Transportation to loan $100,000,000 from Highway Trust Fund to Highway Fund in two $50,000,000 installments by February 1 and May 1, 2020.

Establishes Transportation Emergency Reserve with $125,000,000 cap, funded annually from Highway Fund, accessible only after presidential disaster declaration under the Stafford Act and restricted to major disasters excluding snow/ice removal.

Limits Department of Transportation to $150,000,000 per fiscal year for Map Act settlement payments (excluding Turnpike projects) and changes interest calculation to use Federal Reserve prime lending rate rather than statutory rate.

Appropriates $36,000,000 in disaster relief funds: $30,000,000 for Hurricane Dorian recovery, $2,000,000 each for Living Shoreline projects, Flood Inundation Mapping Alert Network expansion, and Flood Risk and Vulnerability Assessment on Strategic Highway Corridors.

Requires Department of Transportation to publish weekly "NCDOT Cash Watch Numbers" reports and monthly balance sheet reports detailing cash positions, disbursements, and reserves; mandates State Auditor performance audit by March 1, 2020 and Department financial management report by January 15, 2020.