Amends GS 160A-400.7, Historic Preservation Commission (Commission), deleting language which previously allowed a municipality to designate a community appearance commission, as specified, to serve as its historic preservation commission. 

Amends GS 160A-400.8, Powers of the Historic Preservation Commission, clarifying that a Commission has the authority to enter private lands, with the consent of the owner, only for the performance of its official duties and then only at reasonable times, in order to prepare a renovation report or other report to aid in the review of a certificate of appropriateness application, examination, or survey.

Amends GS 160A-400.9, Certificate of appropriateness required, to provide that applications for certificates of appropriateness must be reviewed and acted upon within a time period not to exceed 120 days (was, 180 days). Adds language that provides that if the application is not acted on within that time frame then the certificate must be issued. Adds language which provides that appeals heard before the Board of Adjustment cannot be voted on by a member that serves on both the Commission and the Board of Adjustment. Adds new subsection (e1), providing that a party that desires to appeal a decision of the Board of Adjustment can submit the matter to binding arbitration in lieu of appealing to superior court. Sets outs regulations and procedures for completing binding arbitration, including that the costs will be split among the parties equally. 

Amends GS 160A-400.14, Delay in demolition of landmarks and buildings within historic district, providing that an approved certificate of appropriateness authorizing the relocation, demolition or destruction of a designated landmark or a building cannot be denied but can have its effective date delayed up to 270 days from the date of approval (was, 365 days).  Provides that the demolition or destruction of a site or building located on a proposed landmark can be delayed by the commission or planning board up to 60 days (was, 180 days) or until the governing board decides to take final action on the designation as a landmark, whichever occurs first.

Enacts GS 160A-400.16, Renovation report by Historic Preservation Commission, defining renovation report as an informational report issued by a historic preservation commission or its designee. Sets out what a renovation report must contain at a minimum, including a listing of materials appropriate for use in alteration or restoration of the exterior features as specified. Provides that a renovation report cannot include stand-alone new construction, demolition or the moving of a structure on the subject parcel. Sets out procedures for requesting a renovation report by an owner or a potential purchaser. Provides that renovation reports issued by a Commission are valid for one year after issuance and are fully transferable.  

Effective October 1, 2015, applying to applications for certificates of appropriateness submitted on or after that date.