Amends GS 115C-431, which sets forth procedures for the resolution of disputes between boards of education and boards of county commissioners regarding the sufficiency of appropriations made to the capital outlay fund. Establishes that in the event no agreement is reached in mediation on the amount of money appropriated to the capital outlay fund, the decision of the county commissioners is final. Prohibits the local board of education from filing any legal action challenging the sufficiency of funds appropriated by the board of county commissioners to the capital outlay fund. Eliminates all existing provisions which set forth an appeal procedure for local boards to appeal the decision of the board of county commissioners regarding appropriations for the capital outlay fund. Makes conforming changes to GS 115C-432.