Establishes the 10 member Joint Legislative Study Committee on Insurance Rate Making (Committee) to study: (1) the structure, function, and operations of the Rate Bureau with respect to auto and property insurance rate making; (2) the function and purpose of the specified consent to rate rate deviations and whether the current prevalence of this type of rate deviation conforms to that function and purpose, and alternatives that will adequately protect North Carolina property owners and drivers and maintain access to adequate choice in the insurance market; and (3) any other subject the Committee finds germane to an understanding of and basis for legislative proposals to revise the insurance rate‑making process in North Carolina. Requires the Committee to consist of five members of the House of Representatives appointed by the Speaker of the House of Representatives and five members of the Senate appointed by the President Pro Tempore of the Senate. Specifies other provisions governing the Committee's functions. Requires the Committee to submit a final report to the 2015 General Assembly when it reconvenes in 2016, at which time the Committee terminates.