Amends GS 142-84 of the State Capital Facilities Finance Act, adding a new subsection requiring that resolutions that authorize special indebtedness must make a determination  that the sum of the special indebtedness proposed to be issued, as well as all other outstanding special indebtedness of the state authorized after July 1, 2013, does not exceed 25% of the total outstanding debt of the state that is supported by the General Fund. This does not apply to  to the issuance of bonds or notes for refunding purposes pursuant to GS 142-89(f).

Effective July 1, 2013, and applies to special indebtedness used to finance the cost of capital facilities incurred on or after that date.