Senate committee substitute to the 2nd edition replaces the content of the previous edition with the following. Makes conforming changes to the act's titles.

Amends GS 115C-407.65 to require public school units to purchase catastrophic insurance for high school interscholastic athletic activities. Also provides that public schools may purchase catastrophic and other accident insurance for students as provided for in Part 2 (Student-Athletic Catastrophic Insurance) of Article 31A of GS Chapter 58 (current law provides that participating schools must purchase catastrophic insurance for high school interscholastic athletic activities as provide in part 2). 

Amends GS 58-31A-60 (as enacted in SL 2021-184) to define participating school as it applies under the statute (concerning catastrophic insurance for covered activities) as a high school in a public school unit that elects to offer interscholastic athletic activities. Also amends the statute to require that premiums for accident insurance, in addition to the already listed catastrophic insurance, for covered activities must be paid by each participating school according to rates fixed by the Commissioner of Insurance, and the Commissioner is allowed to purchase that insurance from insurers admitted to do business in the state as necessary.