Senate committee substitute to the 1st edition makes the following changes.

Amends new Article 10B, titled the "Commercial Property Assessed Capital Expenditure and Resilience Act (C-PACE)," in GS Chapter 160A, as follows. Amends the C-PACE toolkit requirements under new GS 160A-239.14 so that: (1) the required form of notice of C-PACE assessment has to identify the qualified commercial property subject to the assessment, along with the property's owner's consent to that assessment; (2) the form of assignment of C-PACE lien is from the local government to the capital provider that cross-references the registry book and page number of the notice of C-PACE assessment giving rise to the lien; and (3) expands the type of lienholders that must consent to a C-PACE assessment to include those holding any other lien upon the qualifying commercial property (currently just holders of a mortgage or deed of trust). Changes references in GS 160A-239.14 from benefitted property to qualifying commercial property.  Expands the property owner's required certification so that the owner must certify that they are the holder of title in fee simple (currently just have to certify that they are the legal owner of the property), in addition to certifying that title is not in dispute. Removes the requirement that a C-PACE lien must be executed before the C-PACE assessment and lien documents are recorded in the appropriate office of the registrar of deeds. Makes clarifying changes.   

Expands the required contents of the local government's resolution under new GS 160A-239.15 to include a statement of the place and time for a public hearing on the proposed C-PACE program. Specifies that if a local government seeking to participate in a C-PACE program is a city, the authorizing resolution is effective only with the concurrence of the governing body of the county in which the city is located. Amends the prong of the resolution containing the government's statement that it intends to authorize C-PACE financing so that it now requires the local government to state that it intends to authorize: (1)  C-PACE financing; (2) the imposition of C-PACE assessments on qualifying commercial properties benefitting from qualifying improvements to secure repayment of C-PACE financing; (3) assign the C-PACE lien to the capital provider providing C-PACE financing; and (4) delegate billing, collection, and enforcement duties for the C-PACE assessment and C-PACE lien to capital providers (was, statement must: authorize C-PACE financing, authorize the imposition of C-PACE assessments and C-PACE liens on qualifying commercial properties benefitting from qualifying  improvements to secure repayment of C-PACE financing, and assign the same  or the right to repayment proceeds to the capital provider providing C-PACE financing, and delegate billing, collection, and enforcement duties for the C-PACE assessment and C-PACE lien to capital provider). 

Changes reference from payment of C-PACE lien to payment of C-PACE assessment in GS 160A-239.17. Now prevents the use of public funds to repay any C-PACE assessment under GS 160A-239.20 (was, prevents public funds from being used to repay any loan between a capital provider and property owner). Changes the conforming change to GS 105-375 (in rem foreclosures) to refer to liens arising from C-PACE assessments (was, just referred to the assessments). 

Amends the Employee Stock Ownership Plan (ESOP) prong of the term minority business under GS 143-128.2(g) (concerning minority business participation goals) so that 51% of plan participants must be comprised of minority persons or socially and economically disadvantaged individuals (was, 51% of the ESOP stock must be owned by such persons).  Makes conforming changes and further amends GS 143-128.4 (defining historically underutilized businesses for purposes of statewide uniform certifications) to require an ESOP company applying for such certification to provide an attestation that it meets the requirements of the statute along with any required supporting documentation. 

Makes organizational changes and conforming changes to the act's title.