Senate committee substitute to the 2nd edition makes the following changes.

Amends the definitions of C-PACE toolkit, qualifying improvement, and renewable energy measure.

Now requires the statewide administrator to prepare a C-PACE toolkit with stakeholders and local governments subject to approval of program sponsor (was, in consultation with local governments and the program sponsor) under GS 160A-239.14 (administration of statewide C-PACE program). Amends the process for reviewing and evaluating C-PACE applications as follows. For existing buildings, changes the required conservation results so that it also includes conservation of energy that meets or exceeds then-existing State and federal building codes and efficiency standards or conservation codes. Adds a requirement for existing or new buildings, that there be certification by a licensed engineering firm or engineer that all available electric public utility energy efficiency and demand response programs available to property owners and any tenants thereof have been evaluated prior to applying for C-PACE financing. Makes technical changes.

Adds requirement to GS 160A-239.18 (concerning financing) that the total amount of financing of the qualifying improvement secured by the property does not exceed 35% of the value of the property. Provides for a calculation of value.

Amends GS 105-376(b) (concerning payment of purchase price by taxing units) so that any taxing unit purchasing property at foreclosure sale under GS 105-376 by paying full purchase price, takes the property subject to liens arising from C-PACE assessments, in addition to the other encumbrances listed.

Removes provisions appropriating $50,000 from the General Fund to the Department of Commerce to develop the C-PACE toolkit. Makes organizational changes.