Amends GS 143B-437.01 to allow the funds from the Industrial Development Fund Utility Account to also be used by city and county governments for work based experience programs, and allows up to $5000 of the money from the Fund to be used for applied technology equipment and renovations of school property for work based experience programs. Adds and defines the term work based experience programs as high school educational programs in which high school students take classes that are developed in collaboration with and use equipment provided by eligible industries, and for which the students receive an associate degree in a field related to the eligible industry when they graduate from high school.