Directs the State Education Assistance Authority (SEAA) to administer a scholarship program for the award of grants to resident students enrolled in their second year or higher in a constituent institution of the UNC System in order to attend a semester or summer term internship program at the Washington Center for Internships and Academic Seminars (Washington Center). Requires the grants to be administered pursuant to guidelines and procedures established by the SEAA consistent with those for administering State-funded financial aid, and details procedures which must be included. Allows any student who meets the eligibility criteria of the Washington Center to apply for a grant to cover the costs related to the internship program, up to $7,000. Requires grants to be awarded in the order in which applications are received. 

Requires reduction of grants, as provided, if the student receives a scholarship or other grant covering the cost of attendance of the program, as determined by the SEAA.

Details requirements of the internship at the Washington Center, including interning four days a week with a nonprofit corporation, private company, federal agency, or member of Congress; taking a class taught by the Washington Center's faculty; and being responsible for a final portfolio project outlining work completed. Allows students from all majors to participate.

Appropriates $500,000 for each of the 2019-20 and 2020-21 fiscal years from the General Fund to the Board of Governors of the UNC System to be allocated to the SEAA for the award of scholarships under the act. Authorizes the SEAA to use up to 1% of the appropriated funds each fiscal year for administrative costs.

Directs the SEAA, in consultation with the Washington Center, to report to the specified NCGA committee and committee chairs on the implementation of the scholarship program by March 1, 2021.

Effective July 1, 2019, and applies beginning with the award of scholarship grants for the 2020 spring academic semester.