House amendment makes the following changes to the 1st edition.

Revises the proposed language in GS 143C-4-2(b) to provide that, in each fiscal year, funds reserved to the Savings Reserve must be available for expenditure upon appropriation by a majority vote of the Senate and House of Representatives present and voting in an aggregate amount that cannot exceed 7.5% of the prior fiscal year’s General Fund operating budget appropriations, excluding departmental receipts (previously, did not expressly exclude departmental receipts). Makes conforming changes to proposed subsections (b1) and (e).

Further revises the proposed language in subsection (b) to allow the general use of the funds in the Savings Reserve under subsection (b) to cover the difference between that fiscal year’s General Fund operating budget appropriations, excluding departmental receipts and projected revenue (previously base budget needs and projected revenue).

Revises proposed subsection (d) to clarify that the transfer of 15% of each fiscal year's estimated growth in State tax revenues means those State tax revenues deposited in the General Fund. Makes conforming changes to proposed subdivision (6) of GS 143C-3-5(b).

Adds a new subsection to require the Office of State Controller to transfer to the Savings Reserve the estimated growth amount required by proposed subsection (d). Provides that upon calculation of the actual growth in State tax revenues deposited in the General Fund, the Office of the State Controller must adjust the amount of the transfer to the Savings Reserve to achieve an amount equivalent to 15% of the actual growth. Reletters proposed subsection (e) and (f). Makes technical changes.

Adds a new subsection to clarify that nothing in the statute is to be construed to apply to the Highway Fund or the Highway Trust Fund. Also clarifies that nothing in the statute prohibits the General Assembly from directing the transfer of additional funds (was, from depositing additional funds) into the Savings Reserve.

Adds new subsection to GS 142-15.4, concerning savings from refinancing of general obligation bonds to be placed in the Savings Reserve, to establish that the statute does not apply to general obligation bond indebtedness of the State serviced by the Highway Fund or Highway Trust Fund or other transportation related debt financing arrangements.

Adds new subsection to GS 142-96, concerning savings from refinancing of special indebtedness to be placed in the Savings Reserve, to establish that the statute does not apply to special indebtedness of the State serviced by the Highway Fund or Highway Trust Fund or other transportation related debt financing arrangements.

Directs the Office of State Budget and Management and the Fiscal Research Division to commence development of the methodology for arriving at the consensus estimate required in GS 143C-4-2(e).

Makes technical changes.

Removes the effective date of July 1, 2017, for the proposed revisions to GS 142-15.4 and GS 142-96 to instead makes those changes effective on October 1, 2017.