House committee substitute makes the following changes to the 4th edition.

Amends the long title.

Amends GS 105-275 (Property classified and excluded from the tax base). Amends the provisions of that statute that distinguish the treatment of leasehold interests in exempted real property from the treatment of intangible personal property other than software. Effective for taxes imposed for taxable years beginning on or after July 1, 2017.

Establishes a 25-member Criminal Code Recodification Commission (Commission), with members appointed by the President Pro Tem. of the Senate, the Speaker of the House of Representatives, the Governor, the Lieutenant Governor, the North Carolina Chamber Legal Institute, and the Chief Justice, with the chair appointed by the Chief Justice. Directs the Commission to create a fully drafted new criminal code, official commentary to the new code, conversion tables to compare current law to the draft code, and offense grading tables, as specified and according to nine listed standards, including that the Commission eliminate unnecessary, inconsistent, or unlawful provisions in the current code. Provides for seeking funding for the Commission. Directs the Commission to make an interim report no later than December 1, 2018, to the Joint Legislative Oversight Committee on Justice and Public Safety, and to make a final report of its findings and recommendations no later than December 1, 2019, to the Joint Legislative Oversight Committee on Justice and Public Safety and the General Statutes Commission. Provides that the Commission expires upon the submission of its final reports. Directs all agencies, boards, and commissions with the power to establish criminal penalties in the NC Administrative Code to provide the Commission with a list of all criminal penalties currently in effect or pending implementation, by December 1, 2017.

Provides that Section 7 is effective when the act becomes law.