Senate amendment to the 2nd edition makes the following changes.

Deletes proposed GS 116-40.22(e) and instead provides as follows. Allows the University of North Carolina to contract with service providers specializing in services offered to institutes of higher learning offering systems or services under arrangements that provide for the receipt of funds electronically, provided that the services are in compliance with the requirements of the payment industry security standards. Requires funds remitted to the University that are on deposit with the State Treasurer under GS 147-77 to be subject to the daily deposit requirements, but the Treasurer may exempt the requirement for any standard business process that delays the University's receipt of the funds from a service provider if the exemption is based on an acceptable business case that demonstrates an overall efficiency to the University and state. Requires the business case to be endorsed by the University of North Carolina General Administration before being submitted to the Treasurer for consideration.