House committee substitute makes the following changes to the 2nd edition.

Changes the short and long titles.

Deletes the provisions of the previous edition in its entirety.

Provides that if House Bill 292 becomes law, it will then be rewritten as provided below:

Prohibits the Union County Board of Education from filing any legal action under GS 115C-426 (uniform budget format), 115C-431 (procedure for resolution of dispute between board of education and board of county commissioners), or 115C-432 (the budget resolution; adoption; limitations; tax levy; filing) challenging the sufficiency of the funds appropriated by the Union County Board of Commissioners (Board) to the local current expense fund, the capital outlay fund, or both. This is effective when the act becomes law and expires upon adoption of the budget ordinance by the Board for the 2016-17 fiscal year.

Amends GS 115C-429(b), to require the Board to appropriate the following specified amounts: (1) for 2014-15, at least $87,097,884 for the local current expense fund and at least $19,531,582 for capital outlay and (2) for 2015-16, at least an amount equal to the current expense fund appropriation for 2014-15 plus an inflationary increase and any increase in the average daily membership in the local school administrative unit in the first 20 days of the school year from the prior school year and at least $19,786,024 for capital outlay.

Requires the Board and the Union County Board of Education, on or before August 1, 2014, to establish a working group to develop a multi-year plan to address existing and ongoing capital needs of the Board of Education. Work must be completed and reported to the Board and Union County Board of Education on or before June 30, 2015. Provisions above apply only to Union County.

Repeals GS 115C-431, Procedure for resolution of dispute between board of education and board of county commissioners, as the provisions therein apply to the counties of Gaston and Nash only.

Provides that the local boards of education, from Gaston and Nash Counties, cannot file any legal action  under GS 115C-426, 115C-431, or 115C-432 challenging the sufficiency of the funds appropriated by the board of county commissioners to the local current expense fund, capital outlay fund, or both. Provides that the above provisions expire when the 2016-17 fiscal year budget is adopted by the appropriate board of county commissioners.

Includes a severability clause.

Effective June 11, 2014, and does not affect any action filed prior to that date.