Creates the Holiday Bonus Compensation Fund (Bonus Fund) to provide a one-time compensation bonus of $1,000, payable January 31, 2017, to teachers and State employees subject to the State Human Resources Act. Appropriates $268,415,165 in nonrecurring funds from the General Fund to the Bonus Fund for the 2016-17 fiscal year, and $7,210,935 in nonrecurring funds from the Highway Fund to the Bonus Fund, for the purpose of the one-time holiday bonus. Provides that the one-time holiday bonuses are not compensation under GS Chapter 135 (Retirement System For Teachers And State Employees; Social Security; State Health Plan For Teachers And State Employees).