Requires the UNC BOG, by no later than December 1, 2024, to select up to three UNC constituent institutions to serve as Artificial Intelligence (AI) Hubs in the State. Requires at least one AI Hub to be one of North Carolina's Public Historically Black Colleges and Universities or North Carolina's Historically American Indian University, the University of North Carolina at Pembroke. Specifies that each AI Hub will convene industry and academia to ensure that artificial intelligence (1) generates economic growth for the State of North Carolina and (2) protects the rights and liberties of the citizens of this State.

Appropriates from the General Fund to the UNC BOG the following sums for AI Hubs for the 2024-2025 fiscal year: (1) $15 million in nonrecurring funds to be allocated equally among constituent institutions selected for an AI Hub, to establish AI Hubs, including necessary infrastructure, (directs that the funds will not be made available to a selected constituent institution until that institution matches 10% of the funds made available with non-State funds); (2) $1 million in recurring funds to be allocated equally among each constituent institution selected for an AI Hub. Specifies that the funds will be used for operational support and personnel needed for the AI Hubs, including to establish an expert in residence position at each AI Hub.

Effective July 1, 2024.