Amends GS 136-82(a) through (d) deleting any language referring to the establishment, collection, and use of tolls on ferries by the Board of Transportation.  Establishes the Ferry Capital Improvement Account as a reserve account in the Highway Fund. Provides that the following funds will be credited to the account: (1) net receipts generated from the approved receipt-generating activities in GS 136-82(f), (2) any unallotted and unencumbered balances on the last day of the fiscal year of the funds appropriated from the Highway Fund to the Ferry Division, and (3) any other funds from General Assembly appropriations or any contributions and grants from public or private sources. Requires such funds to be used for prioritized improvements to the vessels and facilities of the NC Ferry System, including ferry passenger vessel replacement projects.

Makes technical and conforming changes.

Amends GS 136-44.2(f1)(2) excluding funds appropriated to the Ferry Capital Improvement Account from being counted towards the credit reserve for the Highway Fund.

Directs the Board of Transportation to stop collecting ferry tolls on the effective date of this bill and to take action as fast as possible to repeal its regulations implementing ferry tolls. Requires funds or commuter pass payments received after the effective date of this bill to be refunded.

Appropriates $5 million in recurring funds from the Highway Fund, beginning with 2015-16 fiscal year, to be used for purposes consistent with GS 136-82(f1), the operations of concessions on ferries and at ferry facilities.

Effective July 1, 2015.