Enacts new GS 115C-238.20, Reserve Funds, in new Part 5A, Reserve Funds for Nontraditional Public Schools, in Article 16 of GS Chapter 115C. Requires the operator of a nontraditonal public school to maintain at a minimum an escrow account, letter of credit, bond, deed of trust, or combination thereof with a total value of $100,000, to ensure payment of expenses related to breach of contract, early termination, or other expenses incurred by closure. Sets out and defines a nontraditional public school for the purposes of the section. 

Appropriates $20,000 from the General Fund to the Department of Public Instruction for 2016-17 to implement the above requirements.  Effective July 1, 2016.