Directs the State Controller to transfer $10 million from the Coronavirus Relief Reserve to the Coronavirus Relief Fund (both established by SL 2020-4) for the 2019-20 fiscal year. Appropriates the transferred funds to the Office of State Management and Budget (OSBM) on a nonrecurring basis for the 2019-20 fiscal year to be allocated to UNC-Chapel Hill for the NC Policy Collaboratory (Collaboratory) to implement a statewide COVID-19 testing, tracking and tracing initiative for the reopening of businesses and the protection of public health. Requires the funds to be used for: (1) creating an internet-based portal for NC-based businesses with an interest in using testing, tracking, and tracing incentives to sign up as participants in the program; (2) selecting a geographically balanced representation of businesses based on the economic tier of the county of operation and the State's economic opportunity zones; (3) selecting a diverse sampling of businesses based on their sector; (4) selecting technologies to be deployed in businesses to carry out an effective testing, tracking, and tracing program; (5) collecting, synthesizing, visualizing, and reporting data to show the efficacy of public health best practices in conjunction with businesses remaining open; and (6) any other research or activity related to monitoring, assessing, or addressing the public health and economic impacts of COVID-19.

Requires the Collaboratory to report to the specified NCGA committee on the progress of the use of appropriated funds received by September 1, 2020. 

Provides that the specified provisions of GS Chapter 143 and GS Chapter 116 do not apply to the purchase of apparatus, supplies, material, or equipment with any of the funds appropriated by the act.

Restricts use of appropriated funds to necessary eligible expenditures incurred during the period beginning March 1, 2020, and ending on December 30, 2020. Provides for the funds to remain available until December 30, 2020, or until the later of June 30, 2022, or a date authorized by a congressional act allowing for the use of federal CARES Act funds beyond December 30, 2020, if the CARES Act is amended.