HB 1068 Summary

• Authorizes six University of North Carolina capital improvement projects totaling $368.5 million to be financed through non-general fund sources including gifts, grants, bonds, and hospital receipts rather than state appropriations.

• Authorized projects include Holmes Convocation Center Parking Deck at Appalachian State University ($20M), New Residence Hall at Elizabeth City State University ($5M), Integrative Sciences Building at NC State University ($90M), Bluford Street Residence Hall at NC A&T ($58M), and P3 Housing acquisitions at UNC Wilmington ($167M) and Western Carolina University ($28.5M).

• Allows the Director of the Budget to authorize cost increases or decreases and funding method changes upon request from the UNC Board of Governors if determined to be in the state's best interest.

• Authorizes the UNC Board of Governors to issue special obligation bonds up to the specified project costs plus 5% for issuance expenses and reserve funds.

• Makes technical corrections to allocations in S.L. 2021-180 for State Capital and Infrastructure Fund appropriations across multiple UNC institutions during the 2021-2023 fiscal biennium, including adjustments to funding levels for specific repair and renovation projects.