Repeals GS 136­18(12a) (authorizing the creation of a transportation infrastructure banking program). Enacts new Article 21, State Infrastructure Bank, in GS Chapter 136, as follows. Enacts new GS 136­277, which is largely substantively identical to repealed GS 136­18(12a), although the text is reorganized into subsections. New GS 136­277 expands the list of federal laws under which the program may receive funds to also include any federal law authorizing and governing the use of federal funds for such a program.

Enacts new GS 136­278, which establishes a State Infrastructure Bank Oversight Board (Board), composed of the Secretary of the DOT, Secretary of the Department of Commerce, State Treasurer, State Auditor, and State Budget Officer. Makes the Board responsible for reviewing and approving loans or other financial assistance under GS 136­277. Quorum of the board is the majority of the entire board. Directs Board members to elect from among themselves a chair and a vice chair, and to meet at least once every six months. Board members may send a voting designee in their place. Directs DOT to provide a meeting space and secretarial support to the Board. Directs Board to review and approve proposed loans under new GS 136­277. Directs Board to develop guidelines for reviewing and approving loans under new GS 136­277, and to publish guidelines online. Directs the Board to report its activities quarterly to the Joint Legislative Commission on Governmental Operations and the Joint Legislative Transportation Oversight Committee. Authorizes travel and subsistence for Board members.

Effective July 1, 2017, and applies to loans applied for on or after that date.