Appropriates from the General Fund to the UNC Board of Governors an amount sufficient in recurring funds for 2020-21 to be allocated for the NC Promise Tuition Plan. Appropriates departmental receipts for 2020-21 up to the amounts needed to implement the act for 2020-21.

States the NCGA's intent to appropriate from the General Fund to the UNC Board of Governors funds in the specified amounts for 2021-22 through 2024-25 to "buy down" any financial obligations incurred by Elizabeth City State University, UNC-Pembroke, and Western Carolina University for the NC Promise Tuition Plan. States the NCGA's intent for 2024-25 and subsequent fiscal years, that the net appropriation for the "buy down" of any financial obligations incurred by those same universities for the NC Promise Tuition Plan not exceed $81.4 million in recurring funds.

Reenacts the provisions of the State Budget Act, GS Chapter 143C, and incorporates them into this act by reference.

Provides that except where expressly repealed or amended by this act, the provisions of any other legislation enacted during the 2019 Regular Session expressly appropriating funds to an agency, a department, or an institution covered under this act, remain in effect.

Effective July 1, 2020.