House committee substitute to the 3rd edition makes the following changes. Amends GS 136-189.11 to modify the distribution of funds subject to the Transportation Investment Strategy Formula to require that 30% (was, 40%) of the funds be used for Regional Impact Projects and 30% (was, 20%) of the funds be allocated in equal share to each of the Department of Transportation (DOT) divisions to be used for Division Need Projects. Makes other clarifying changes.

Amends GS 136-176(b2), decreasing the amount appropriated to the NC Turnpike Authority from the Highway Trust Fund from $112 million to $49 million and deletes the specified appropriation for the Mid-Currituck Bridge, and the Garden Parkway.

Amends GS 136-89.183 to modify the projects that the Turnpike Authority is authorized to design, establish, purchase, construct, operate, and maintain, to remove the Western Wake Freeway segment of the Triangle Expressway, the Garden Parkway, the Cape Fear Skyway, and a bridge of more than two miles in length going from the mainland to a peninsula bordering Virginia. Provides that in order to be selected for construction by the Turnpike Authority, before the letting of a contract for the project, only two of the projects (was, all of the projects) must be ranked in the top 35 based on total score on the Department's Mobility Fund Project Scores, Makes conforming changes.

Requires DOT to strive to expedite the federal environmental impact statement process to define the route for the Southeast Extension of the Triangle Expressway Turnpike Project by taking appropriate action, including those specified, to accelerate the environmental permitting process.

Requires the Joint Legislative Transportation Oversight Committee to closely monitor the progress of the Southeast Extension of the Triangle Expressway Turnpike Project.