Provides that the act is to be known as the "Gas Tax Rebate Act of 2022."

Sets out the act's purpose. Provides that a person is eligible for a $200 gas tax rebate if the person, as of March 31, 2022, is a State resident, over age 18, and has a valid NC driver's license. 

Requires the State Controller to transfer $1.3 billion from the anticipated General Fund revenue over collection to the Department of Revenue for the rebate which is to be issued as a check or debit card. Requires the rebate to be sent by October 1, 2022.

Specifies that if the total value of rebates exceeds the appropriated funds, then an additional amount is appropriated from the General Fund in an amount equal to the difference between the total value of gas rebates issue and the appropriated amount.

Effective July 1, 2022.