House committee substitute deletes all provisions of the 1st edition and replaces it with AN ACT TO ENACT THE LEASE-PURCHASE AGREEMENT ACT AND TO AMEND THE LAW ON ENROLLMENT PRIORITY FOR CHARTER SCHOOLS. Changes short title to NC Lease-Purchase Act/Charter Sch. Priority. 

Adds new GS Chapter 25D, the North Carolina Lease-Purchase Agreement Act. Sets out definitions and exceptions. Defines a lease-purchase agreement as an agreement for the use of personal property by a consumer for an initial period of four months or less that contains automatic periodic renewals with each payment after the initial period, no provision obligating the consumer to continue use of the property beyond the initial period, and a provision permitting the consumer to become the owner of the property. Requires the lessor to make 12 disclosures including the attributes of the payments, a clear statement of the terms of the agreement, and a statement that the consumer may terminate the agreement without penalty. Prohibits lease purchase agreements from containing a confession of judgment, a negotiable instrument, a security interest, a wage assignment, a waiver of claims or defenses by the consumer, or an authorization to enter the consumer's premises for repossession purposes. Provides for reinstatement of the agreement. Allows parties to renegotiate and extend existing agreements. Provides for advertisement of agreements. Provides that the Consumer Credit Protection Act will control when in conflict with this Chapter. 

Effective January 1, 2019, and applies to all agreements entered on or after this date. 

Amends GS 115C-218.45(f), removing requirement for the sibling of a student to have been enrolled in the charter school for the previous year in order for that student to have enrollment priority.