Conference report to the 3rd edition makes the following changes.

Sets out the following requirements for the Scholarships for Child of Wartime Veterans Program (Program) for the 2024-25 and 2025-26 academic years, for the administration of scholarship funds under the Program: (1) within funds available for the Program, determine (a) if there are additional eligible recipients, other than those identified by the Department under this Program, who are attending public colleges and universities of the State who may qualify to have their scholarships funded with monies from the Escheat Fund, and allows the Authority, after consultation with the Secretary, to fund those scholarships with monies from the Escheat Fund, (b) after consultation with the Authority, whether to prioritize the award of new applicants for the 2025-26 academic year in Class I-A, I-B, and IV scholarships, before awarding Class II and III scholarships, (c) the Secretary, after consulting with the Authority, may determine based on the number of eligible students that have applied for the 2025-26 academic year, whether to reduce the room and board allowance award for students attending a public institution and the maximum allowance award for students attending private institutions, prior to August 15, 2025, and (d) after the actions set forth above have been taken, for awards for the 2025-26 academic year, if funds available for the Program are still insufficient to provide scholarships to all eligible students, the Authority may adjust and standardize award amounts as necessary, including providing pro rata scholarship awards for room and board, to ensure the efficient administration of the scholarship funds; (2) requires scholarship notifications to include language that the award of the scholarship is contingent upon the availability of funds; (3) the Authority must disburse scholarship according to GS 116-204(11a); and (4) from the total amount of funding appropriated to the UNC Board of Governors and allocated to the Authority in a fiscal year to support the award of scholarship funds under the Program, the Authority may use up to 2.5% for Program administration costs from the allocation from the General Fund. Requires that unexpended and unencumbered appropriated funds remaining at the end of the 2024-25 and 2025-26 fiscal years be deposited into an institutional trust fund to be used for awarding scholarships under the Program and for administration costs related to the Program. Effective June 30, 2025, and applies to awards granted for the 2024-25 and 2025-26 academic years.

Makes conforming organizational changes.