House committee substitute makes the following changes to the 1st edition:

Provides that, notwithstanding any other provision of the law to the contrary, the Board of Trustees of the College of the Albemarle (Board) may expend State funds appropriated for capital improvements, including Connect NC Bond funds, for the construction of renovation of educational facilities owned by and located on a property owned by a county within the service area of the College of the Albemarle (Camden, Chowan, Currituck, Dare, Gates, Pasquotank, and Perquimans counties).

Provides that any facility constructed or renovated under this bill shall be leased for at least 30 years to the Board, and provides for the return of prorated building costs to the college in the event the lessor terminates the lease through no fault of the college.

Requires Connect NC Bond funds used for this act to be expended on the cost of capital facilities to be used by the College of the Albemarle to carry out its community college purposes, and requires this to be reflected in the lease.

Authorizes the Board to contract for the renovation or construction of educational facilities described in this Act with any of the counties within the service area without being subject to GS 143-341 (Powers and Duties of the Department of Administration).

Adds that the act applies only to capital improvement projects with construction contracts executed prior to July 1, 2022.