Establishes the eight-member Joint Legislative Study Commission (Commission) on the Use of Repairs and Renovations Funds by UNC to examine the way that the UNC System has used Repairs and Renovations allocated to the system in recent years. Specifies issues that must be examined. Provides for the appointment of Commission members, naming of chairs, filling of vacancies, and staffing. Requires the Commission to report to the 2014 Regular Session of the 2013 General Assembly. Requires UNC to furnish the Commission with any requested information. Effective July 1, 2013.