House committee substitute makes the following changes to 1st edition. Deletes amendments to GS 143B-454 made in the previous edition. Enacts new subsection (i) to GS 143B-452 to limit membership terms on the State Ports Authority (Authority) to 12 consecutive years. Rewrites GS 143B-455 to include additional language stating that the Authority is subject to GS 146-29.1 and must report in detail all transactions relating to the acquisition or disposition of real property or any estate or interest in real property to the Joint Legislative Commission on Governmental Operations. Rewrites GS 143B-465(c) to provide that, before exercising an exemption under the subsection, the Authority, through its Executive Director, must give written notice of the Authority’s intent to exercise the exemption to the Secretary of Administration and to individual members of the Authority’s board. Requires the Executive Director to report to the Authority’s board at each meeting on any contracts to which an exemption was applied since the last meeting of the board. Deletes provisions in proposed GS 143B-468.1 (rental of Authority properties) and instead enacts new GS 143B-468.1 to provide that contracts for services published in the Authority’s tariff for which the price deviates by more than 20% from the published tariff rate must be approved by the Council of State prior to the Authority entering into the contract. Directs the Authority to report quarterly to the Joint Legislative Commission on Government Operations on any such contracts. Makes other clarifying changes.