House committee substitute makes the following changes to the 1st edition.

Amends the catch line of GS 105-187.51Bto read: "Tax imposed on machinery, equipment, and other tangible personal property used by certain companies." (was, Tax imposed on certain recyclers, research, and development companies, industrial machinery refurbishing companies, and companies located at ports facilities.)

Amends GS 105-187.51B(a)(6) to provide that a privilege tax is also imposed on a company with annual gross receipts of at least $8 million, including the gross receipts of all related persons as defined in GS 105-163.010. Expands the equipment purchase requirements that a company must meet to include that the equipment or attachment or repair part for the equipment may be used by the company to establish the fabrication or manufacture of metal products or used by the company to create equipment for the fabrication or manufacture of metal products. Provides that a company would not be required to be primarily engaged in the fabrication of metal products to meet the requirements for the privilege tax. Effective July 1, 2015 and applies to purchases mde on or after that date.

Adds a new Section 2 that directs the Revenue Laws Study Committee to study the scope and application of the privilege tax at the rate of 1% with an $80 cap for purchases of mill machinery and other equipment and report its findings, along with any legislative recommendations, to the 2016 Regular Session of the 2015 General Assembly.

Changes the bill's long title to reflect the changes to the bill.