House committee substitute deletes all provisions of the 2nd edition and replaces it with the following. 

Establishes the State Payment in Lieu of Taxes Study Commission (Commission), consisting of 13 members. The 13 members include (1) three members of the House of Representatives appointed by the Speaker of the House of Representatives (Speaker); (2) three members of the Senate appointed by the President Pro Tempore of the Senate; (3) the Secretary of Revenue or a designee; (4) three members of the public appointed by the Speaker, including two based on the recommendations of the North Carolina Association of County Commissioners and one based on the recommendation of the North Carolina League of Municipalities; and (5) three members of the public appointed by the President Pro Tempore of the Senate, based on the same recommendations applied to the Speaker. Sets forth provisions for appointment of cochairs, meeting times and places, quorums, vacancies, staff, powers, and expenses. Requires the Commission to study issues relating to the development of a state payment in lieu of taxes for State properties. The Commission may submit an interim report and must submit a final report on the results of its study, including any proposed legislation, to the members of the Senate and the House of Representatives prior to the convening of the 2017 General Assembly. 

Directs the Environmental Review Commission to study issues relating to statewide approaches to control invasive aquatic noxious weeds in the state's waters and report to the 2016 Regular Session of the 2015 General Assembly. 

Directs the Revenue Laws Study Committee to study the financial impacts on local governments of exempting previously taxable properties from the property tax base when acquired by nonprofits. Prohibits the committee from considering the taxation of property used for religious purposes. The committee must report its findings and recommendations to the 2016 Regular Session of the 2015 General Assembly.

Amends GS 159-32 to allow local governments and public authorities to deposit cash less often than monthly until the amount of cash on hand reaches $250, at which point deposit is required. Also provides for submission of cash to a properly licensed and recognized cash collection service. This section becomes effective January 1, 2016. 

Changes the act's short and long titles.