Enacts Article 36 to GS Chapter 116, establishing that a tuition grant is to be awarded to each NC resident who graduates from the NC School of Science and Mathematics and who enrolls as a full-time student in a constitution institution of UNC. 

Directs the State Education Assistance Authority (Authority) to administer the tuition grants in consultation with the General Administration of UNC, and pursuant to guidelines and procedures established by the Authority consistent with its practices for administering State-funded financial aid. Requires the guidelines and procedures to include an application process and schedule, notification and disbursement procedures, standards for reporting, and standards for the return of tuition grants when a student withdraws. 

Requires the Authority to receive proper certification from the appropriate constituent institution that the student applying for the grant is an eligible student prior to approving any grant. Provides for the Authority to remit the tuition grant to the constituent institution on behalf and to the credit of the student. Directs the constituent institution to refund the full amount of the tuition grant to the Authority if the student on whose behalf the grant was paid is not enrolled and carrying the minimum academic load as of the tenth classroom day following the beginning of the school term for which the grant was paid.

Establishes the maximum amount of the tuition grant to be awarded to any student for any academic year as $5,000 per semester. Allows for the maximum amount to be increased by 2% for any academic year for which the tuition rate at the constituent institution is increased. Prohibits the amount of the tuition grant, together with all other grants, educational benefits, and any other financial aid, to cause the total of all of the assistance to exceed the total cost of attendance at the in-State tuition rate at the constituent institution, as determined in accordance with Title IV of the Higher Education Act of 1965, as amended. 

Establishes the North Carolina Tuition Grant Fund (Fund) to be administered by the Authority. Directs all funds appropriated to or otherwise received by the Authority to provide tuition grants under new Article 36, all returned tuition grant monies, and all interest earned on these funds to be placed in the Fund. Authorizes the Fund to be used only for tuition grants made pursuant to new Article 36 and the administrative costs of the Authority, so long as no more than 5% of the funds appropriated each fiscal year for tuition grants is expended for administrative purposes. 

Appropriates from the General Fund to the Fund $200,000 for the 2017-18 fiscal year and $2.5 million for the 2018-19 fiscal year.

Effective July 1, 2017. Provides that no tuition grant can be awarded to a qualified student for enrollment commencing prior to August 1, 2018.