Amends GS 115C-530, concerning operating leases of school buildings and school facilities, by enacting a new subsection (b1) that requires the local board of education (board) to adopt a resolution before entering into an operating lease of a school building or facility under the statute.  Requires the board to publish a notice of its intent to enter into an operating lease at least 10 days in advance of the date of the meeting at which the action will be considered and requires the notice to be published in a newspaper having general circulation within the geographic area served by the board.  Requires the notice to include the date, time, and place of the meeting, a brief general description of the terms of the subject of the lease, the name of the other party to the lease, and an indication of the board's intent to take action to authorize the lease at the indicated meeting.  Requires the board's resolution to include the following: (1) that entering into the operating lease for one or more specified buildings or facilities is in the local school administrative unit's best interests under all the circumstances after considering the time, cost, and quality of design, engineering, and construction, including the time required to commence and the time required to complete a particular activity; occupancy costs, including lease payments, life cycle maintenance, repair, and energy costs; and any other factors the board deems relevant and (2) that the private developer is qualified to provide, either alone or in conjunction with other identified and associated persons, the products and services called for under the proposed operating lease and any related agreements, after the board considers any factors the board deems relevant, including the knowledge, skill, and reputation of the provider and its associated persons, the goals and plans of providers for utilization of minority business enterprises, and the costs to be incurred by the board.

Amends GS 115C-530, subsection (a), to establish that any lease entered into pursuant to this statute is not subject to the requirements of GS 143-128.1B, which establishes requirements for governmental entities when entering into design-build bridging contracts (where a governmental entity contracts for design criteria services under a separate agreement from the construction phase services of the design-builder).  Amends GS 115C-530 by changing the title and the language throughout the statute from "operational leases" to "operating leases."

Current SL 2006-232 amends GS Chapter 115C by enacting new GS 115C-531 and GS 115C-532 to allow capital lease financing for public school buildings and school facilities and, as amended in SL 2011-234, Section 1, has a repeal date of July 1, 2015.  Eliminates the repeal date.  

Amends GS 105-164.14(c) to provide that a governmental entity or other entity listed in the statute (currently, only provides for a governmental entity listed) is allowed an annual refund of sales and use taxes paid by it under the Sales and Use Tax statutes of GS Chapter 105 on direct purchases of tangible personal property and services (other than electricity, telecommunications service, and ancillary service).  Adds new subsubsection (27)  to establish that subsection (c) is also applicable to a private developer of a school leased to a county or a local board of education under an operating, capital, or build-to-suit lease with a term of 10 or more years.  Makes conforming changes.

Amends GS 115C-426, which requires the State Board of Education to prepare and promulgate a standard budget format for use by all local school administrative units throughout the state and requires the standard budget format to include a capital outlay fund, by amending subsection (f) to add lease payments for leases entered into under GS 115C-530 (operational leases of school buildings and facilities) or GS 115C-131 (capital leases of school buildings and facilities) to the list of purposes for which the capital outlay fund must make appropriations.  Allows appropriations in the capital outlay fund for the purpose of lease payments for leases entered into under GS 115C-530 or GS 115C-131 to be funded from staff and operational savings achieved through the consolidation of existing school facilities into new or renovated facilities leased from a private developer under GS 115C-530 or GS 115C-531.  Makes technical changes. 

Effective July 1, 2015.