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

Changes the long title.

Amends directive to the Department of Transportation to terminate the Comprehensive Agreement (Agreement) for the I-77 HOT Lanes project (Project) in Mecklenburg and Iredell counties in a manner consistent with the terms of the Comprehensive Agreement, to additionally specify the termination be in a manner pursuant to Section 17.1.1.7 of the Agreement.

Specifies the eight projects to be suspended in Mecklenburg County, notwithstanding Article 14B of GS Chapter 136 (Strategic Prioritization Funding Plan for Transportation Investments), if and to the extent they are related to the I-77 HOT Lanes Comprehensive Agreement project, to be: I-77/Gilead Road Interchange, I-77/NC-73 Interchange, five projects to widen NC-73, project widening US-21, US-21/Gilead Road Interchange, project widening NC-115, Hambright Road Improvements, and Lakeview Road Improvements.

Directs that any State funds resulting from the suspension of the projects, as specified by the act, are to be credited to the reserve account established by the act.

Creates a reserve account within the Highway Trust Fund to be used to pay any damages or other monetary penalties resulting from the termination of the Agreement for the Project in Mecklenburg and Iredell Counties. Requires that, upon resolution of any litigation resulting from the cancellation of the Agreement, or 10 years, whichever is sooner, the funds remaining in the reserve account are to be used by the Department of Transportation to fund the projects suspended by the act, in their Strategic Transportation Investments Act Prioritization 3.0 order. Provides that, if those remaining funds are insufficient to fund any of those suspended projects, those unfunded projects may be resubmitted for prioritization under the Strategic Transportation Investments Act as new projects without prejudice. Establishes that, in the event these funds are deemed unappropriated, the funds are appropriated for the purposes as stated in this section of the act.

Prohibits a project on I-77 in Mechlenburg or Iredell Counties to be constructed as a toll managed land public-private partnership project by the Department of Transportation (DOT) or Turnpike Authority, notwithstanding the provisions of GS 136-18(39), GS 136-18(39a), and GS 136-89.183(a)(2) (statutes granting DOT and the Turnpike Authority power to enter into partnership agreements with public and private entities).

Provides that the act is to have no effect on the provisions or implementation of the Strategic Transportation Investments Act, Article 14B of GS Chapter 136, except as provided in the act.

Provides that all provisions of the act are effective September 1, 2016, except the provisions for appropriation and effective date, which are effective July 1, 2016.