NC H643

Establishes the Passenger Rail Capital and Service Grant Fund as a special fund within the North Carolina Department of Transportation to provide technical and financial assistance for passenger rail projects.

Requires the Department of Transportation to transfer $25,000,000 annually from the Highway Fund to the Fund no later than July 30 of each fiscal year.

Allows fund use for passenger rail project costs including crossing safety upgrades, infrastructure, feasibility studies, environmental analyses, engineering, project vehicles, and operating and maintenance costs.

Sets cost-sharing requirements ranging from 100% funding for feasibility studies to 50% for environmental analysis and design to 30% for new or improved rail system construction.

Repeals the Article effective June 30, 2043, at which time remaining funds transfer back to the Highway Fund.