Enacts Part 5, Tuition Grants for Graduates of the NC School of Science and Mathematics (NCSSM), to Article 23 of GS Chapter 116. Establishes that any resident graduate from the NCSSM in each school year beginning with the 2019-20 school year who enrolls as a full-time student in an eligible institution of higher education in the academic year following graduation is eligible for a tuition grant under Part 5, within the funds available. Extends eligibility to students who receive initial tuition grants as a cohort of a graduating class for subsequent tuition grants for up to four total academic years. Requires the student to submit a letter of intent that the student will remain a state resident for at least four years following graduation from the constituent institution for which the student received the grant. Requires continuous enrollment in an eligible institution of higher education, unless the State Education Assistance Authority (Authority) waives the requirement upon the student demonstrating a substantial disruption or interruption in the pursuit of a degree due to military service obligation, serious medical debilitation, short-term or long-term disability, or other extraordinary hardship. Provides for grant administration by the Authority pursuant to guidelines and procedures consistent with its practices for administering State-funded financial aid. Details the required guidelines and procedures. Requires the Authority to receive proper certification from the appropriate constituent institution prior to approving grants. Provides for remittance to the constituent institution of higher education, and refund by the institution as specified. Details parameters for the amount of grants awarded, requiring the grant to cover tuition costs. Also provides for the reduction of grants if an eligible student receives a scholarship or grant covering the cost of attendance at the eligible institution of higher education for which the grant was awarded, as specified. Provides for disbursement by pro rata share when there are not sufficient funds to provide each eligible student with a full grant.

Requires grant recipients and school administrators of NCSSM to report to the board of county commissioners and House of Representatives and Senate whose districts include the county of the student's permanent residence that the student has accepted a tuition grant. Requires the recipient to report each semester to the members of the House and and Senate whose districts include the county of the student's permanent residence on the student's academic progress, activities, and projects. Requires NCSSM to report to the NCGA annually on the number of students accepting grants and attending constituent institutions and aggregate data on student outcomes and activities. 

Establishes the NC Tuition Grant Reserve Fund (Reserve) to hold all monies appropriated to the Authority to provide the tuition grants, all returned tuition grant monies, and all interest earned, to be used for tuition grants for the academic year that begins in the fiscal year following the fiscal year in which the appropriation is made to to the Reserve, and up to 5% of the funds appropriated each fiscal year to cover the Authority's administrative costs.

Includes resident students who graduated from NCSSM at the end of the 2018-19 school year and were awarded a tuition grant for the 2019-20 academic year under Section 10A.5 of SL 2018-5, in the award of tuition grants beginning with the 2020-21 academic year.

Appropriates $2.2 million in recurring funds for 2019-20 and $2.2 million in additional recurring funds for 2020-21 from the General Fund to the North Carolina Tuition Grant Fund Reserve for awarding tuition grants.

Effective July 1, 2019, and applies beginning with the award of grants for the 2020-21 academic year.