House committee substitute to the 2nd edition makes the following changes. Deletes the content of the previous edition and replaces it with the following.

Part I.

Directs the Department of Revenue (DOR) to issue refund checks for overpayments that result from a tax credit allowed to a qualifying North Carolina taxpayer. Directs DOR to automatically apply the credit to a qualifying taxpayer's tax return instead of a qualifying taxpayer claiming the tax credit. Requires that an explanatory insert be included with the check. Requires that the checks be mailed on on before October 1, 2020. Sets the refund amount as the lesser of the amount of tax due or the following: (1) $250 for married filing jointly; (2) $125 for all other taxpayers. Requires a taxpayer to have filed an individual income tax return for 2018 by October 15, 2019, in order to qualify for the refund. Provides that a tax refund issued under these provisions is subject to overpayment setoff under GS Chapter 105A, the Setoff Debt Collection Act, or under another setoff debt collection program authorized by law. Requires the State Controller to reserve funds necessary to issue the refunds from the General Fund, and provides that to the extent the funds are required to be appropriated, the funds are appropriated.

Appropriates $5,560,000 in nonrecurring funds for 2019-20 from the General Fund to DOR to cover costs incurred for implementing these requirements. 

Part II.

Appropriates $7.5 million in nonrecurring funds for 2019-20 from the General Fund to the Office of State Budget and Management (OSBM) to be provided to the City of Roanoke Rapids to reduce the existing debt incurred by the City to finance the Roanoke Rapids Theatre. Reverts the funds to the General Fund if not disbursed by August 31, 2020. Requires the following conditions to be met before OSBM may disburse the funds to the City: (1) the City must have applied to the Local Government Commission for approval of a plan to apply the appropriated funds to reduce the existing debt incurred by the City to finance the Roanoke Rapids Theatre, which plan must include a proposal for the payment of the existing debt that is not prepaid; and (2) the Local Government Commission must have approved the application.

Makes conforming changes to the act's titles.