Establishes the Historically Black Colleges and Universities Advisory Board (HBCU Advisory Board), located administratively in the University of North Carolina--General Administration. Provides that the HBCU Advisory Board is to have 17 members: (1) seven appointed by the President Pro Tempore of the Senate, three of which are legislators and at least four who attended or graduated from one of the HBCUs of the University of North Carolina; (2)seven appointed by the Speaker of the House, three of which are legislators and at least four who attended or graduated from one of the HBCUs of the University of North Carolina; and (3) threeappointed by the Governor, one of whom the Governor will designate as the chair and at least one who attended or graduated from one of the HBCUs of the University of North Carolina.

Directs the HBCU Advisory Board to study strategies and actions to increase enrollment, retention, and graduation rates for HBCUs that areconstituentinstitutions of the University of North Carolina.

Provides that nine members equal a quorum, the HBCU Advisory Board is to meet upon the call of the chair, and that any vacancy is to be filled by the appointing authority.

Directs theUniversityof North Carolina--General Administration toprovide meeting space, administrative support, equipment, and supplies to the HBCU Advisory Board.

Provides for per diem,subsistence, and travel allowances for HBCUAdvisory Board members as appropriate under GS 138-5, 138-6, or 120-3.1.

Requires that the Advisory Board submit its preliminary findings and recommendations to the UNC Board of Governors no later than December 15, 2015, and its final report to the Joint Legislative Education Oversight Committee no later than March 15, 2016. Directs the HBCU Advisory Board to terminate on March 15, 2016, or upon the submission of its final report, whichever occurs first.