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

Amends the short and long titles.

Amends Section 3 of SL 2013-362 concerning payment plans for property taxes owed as a result of errors that caused an understated value, providing that the appropriate owner can enter into a payment plan for such taxes owed if greater than $1,000 provided that the plan (1) does not exceed 36 months, and (2) requires equal installments (previously, allowed payment plans if not longer in duration than 60 months and did not have an equal installment requirement). 

Enacts new subsection GS 105-321(g) to allow governing bodies with taxing authority to adopt resolutions to provide that refunds of tax overpayments of $15 or less will not be refunded via mail. Requires resolutions to be adopted on or before June 15 preceding the first taxable year to which these provisions apply. Sets out procedures and recordkeeping requirements for such refunds. Provides that such minimal refunds can be requested in person at the tax office before the end of the current fiscal year. If no request is made, the refund amount is to be credited against future taxes. Specifies how interest will accrue.