§ 158‑42. Temporary Region vehicle registrationtax.
(a) Levy. The Commission may, by resolution, after not lessthan 10 days' public notice and a public hearing, levy an annual registrationtax of five dollars ($5.00) on motor vehicles with a tax situs within theRegion. A tax levied under this section is in addition to any other motorvehicle license or registration tax.
The tax applies to vehicles required to pay a tax under G.S. 20‑88,except trailers, and G.S. 20‑87(1), (2), (4), (5), (6), and (7). The taxsitus of a motor vehicle for the purpose of this section is its ad valorem taxsitus. If the vehicle is not subject to ad valorem tax, its tax situs for thepurpose of this section is the ad valorem tax situs it would have if it weresubject to ad valorem tax.
(b) Effective Date; Expiration. The effective date of a taxlevied under this section shall be no earlier than July 1, 1994. The effectivedate of a tax levied under this section must be the first day of a calendarmonth set by the Commission in the resolution levying the tax, and shall be noearlier than the first day of the third calendar month after the adoption ofthe resolution.
The authority of the Region to levy a tax under this section expiresfive years after the effective date of the first tax levied under this section.A tax levied under this section expires when the Region's authority to levy thetax expires. The expiration of the tax does not affect the rights orliabilities of the Region, a taxpayer, or another person arising under thissection before the expiration of the tax; nor does it affect the right to anyrefund or credit of a tax that would otherwise have been available under thissection before the expiration of the tax.
(c) Repeal of Tax. The Commission may, by resolution, repeal atax levied under this section. The effective date of the repeal must be thefirst day of a calendar month set by the Commission in the resolution repealingthe tax, and shall be no earlier than the first day of the third calendar monthafter the adoption of the resolution. Repeal of the tax does not affect thedate the Region's authority to levy the tax expires under subsection (b) ofthis section. Repeal of the tax does not affect the rights or liabilities ofthe Region, a taxpayer, or another person arising under this section before theeffective date of the repeal; nor does it affect the right to any refund orcredit of a tax that would otherwise have been available under this sectionbefore the effective date of the repeal.
(d) Administration. The Division of Motor Vehicles of theDepartment of Transportation shall collect and administer a tax levied underthis section. Immediately after adopting a resolution levying or repealing atax under this section, the Commission shall deliver a certified copy of theresolution to the Division of Motor Vehicles. If the Secretary of State issuesan amended certificate of incorporation adding a county to the Region pursuantto G.S. 158‑33.1, the Commission shall deliver a certified copy of theamended certificate immediately to the Division of Motor Vehicles. If theCommission receives a resolution from a county withdrawing from the Regionpursuant to G.S. 158‑41, the Commission shall deliver a certified copy ofthe resolution immediately to the Division of Motor Vehicles.
A tax levied under this section is due at the same time and subject tothe same restrictions as the tax levied in G.S. 20‑87 and G.S. 20‑88.The tax shall be prorated in accordance with G.S. 20‑95. The Commissionerof Motor Vehicles may adopt rules necessary to administer the tax.
(e) Distribution of Tax Proceeds. The Commissioner of MotorVehicles shall credit the proceeds of the tax levied under this section to aspecial account and distribute the net proceeds on a quarterly basis to theRegion. Interest on the special account shall be credited quarterly to theHighway Fund to reimburse the Division of Motor Vehicles for the cost ofcollecting and administering the tax. The Commissioner of Motor Vehicles shallprovide the Region with an accounting of the percentage of proceeds collectedin each county of the Region in each quarter.
(f) Use of Tax Proceeds. The Region may use the proceeds ofthe tax levied under this section only for economic development projects andinfrastructure construction projects that are within the territorialjurisdiction of the Region but not within the Global TransPark Complex. TheRegion shall use the tax proceeds only for public purposes authorized by thisArticle.
The Region shall place fifteen percent (15%) of the tax proceedsdistributed to it under this section in a general funds account and theremaining eighty‑five percent (85%) in an interest‑bearing trustaccount. Each county shall be the beneficial owner of a share of the principalof the trust account in proportion to the amount of tax proceeds collected inthat county.
The Region may not disburse the principal of the trust account exceptpursuant to a contract that provides that, within a reasonable time not toexceed 20 years, the Region will recover or be repaid the amount disbursed. TheRegion may, in its discretion, set reasonable terms and conditions for therepayment of the principal disbursed, including provisions for securing thedebt and the payment of interest. (1993, c. 544, s.1; 1993 (Reg. Sess., 1994), c. 751, s. 3; c. 761, s. 33; 1995, c. 465, s. 1;2005‑364, s. 1.)
§ 158‑42. Temporary Region vehicle registrationtax.
(a) Levy. The Commission may, by resolution, after not lessthan 10 days' public notice and a public hearing, levy an annual registrationtax of five dollars ($5.00) on motor vehicles with a tax situs within theRegion. A tax levied under this section is in addition to any other motorvehicle license or registration tax.
The tax applies to vehicles required to pay a tax under G.S. 20‑88,except trailers, and G.S. 20‑87(1), (2), (4), (5), (6), and (7). The taxsitus of a motor vehicle for the purpose of this section is its ad valorem taxsitus. If the vehicle is not subject to ad valorem tax, its tax situs for thepurpose of this section is the ad valorem tax situs it would have if it weresubject to ad valorem tax.
(b) Effective Date; Expiration. The effective date of a taxlevied under this section shall be no earlier than July 1, 1994. The effectivedate of a tax levied under this section must be the first day of a calendarmonth set by the Commission in the resolution levying the tax, and shall be noearlier than the first day of the third calendar month after the adoption ofthe resolution.
The authority of the Region to levy a tax under this section expiresfive years after the effective date of the first tax levied under this section.A tax levied under this section expires when the Region's authority to levy thetax expires. The expiration of the tax does not affect the rights orliabilities of the Region, a taxpayer, or another person arising under thissection before the expiration of the tax; nor does it affect the right to anyrefund or credit of a tax that would otherwise have been available under thissection before the expiration of the tax.
(c) Repeal of Tax. The Commission may, by resolution, repeal atax levied under this section. The effective date of the repeal must be thefirst day of a calendar month set by the Commission in the resolution repealingthe tax, and shall be no earlier than the first day of the third calendar monthafter the adoption of the resolution. Repeal of the tax does not affect thedate the Region's authority to levy the tax expires under subsection (b) ofthis section. Repeal of the tax does not affect the rights or liabilities ofthe Region, a taxpayer, or another person arising under this section before theeffective date of the repeal; nor does it affect the right to any refund orcredit of a tax that would otherwise have been available under this sectionbefore the effective date of the repeal.
(d) Administration. The Division of Motor Vehicles of theDepartment of Transportation shall collect and administer a tax levied underthis section. Immediately after adopting a resolution levying or repealing atax under this section, the Commission shall deliver a certified copy of theresolution to the Division of Motor Vehicles. If the Secretary of State issuesan amended certificate of incorporation adding a county to the Region pursuantto G.S. 158‑33.1, the Commission shall deliver a certified copy of theamended certificate immediately to the Division of Motor Vehicles. If theCommission receives a resolution from a county withdrawing from the Regionpursuant to G.S. 158‑41, the Commission shall deliver a certified copy ofthe resolution immediately to the Division of Motor Vehicles.
A tax levied under this section is due at the same time and subject tothe same restrictions as the tax levied in G.S. 20‑87 and G.S. 20‑88.The tax shall be prorated in accordance with G.S. 20‑95. The Commissionerof Motor Vehicles may adopt rules necessary to administer the tax.
(e) Distribution of Tax Proceeds. The Commissioner of MotorVehicles shall credit the proceeds of the tax levied under this section to aspecial account and distribute the net proceeds on a quarterly basis to theRegion. Interest on the special account shall be credited quarterly to theHighway Fund to reimburse the Division of Motor Vehicles for the cost ofcollecting and administering the tax. The Commissioner of Motor Vehicles shallprovide the Region with an accounting of the percentage of proceeds collectedin each county of the Region in each quarter.
(f) Use of Tax Proceeds. The Region may use the proceeds ofthe tax levied under this section only for economic development projects andinfrastructure construction projects that are within the territorialjurisdiction of the Region but not within the Global TransPark Complex. TheRegion shall use the tax proceeds only for public purposes authorized by thisArticle.
The Region shall place fifteen percent (15%) of the tax proceedsdistributed to it under this section in a general funds account and theremaining eighty‑five percent (85%) in an interest‑bearing trustaccount. Each county shall be the beneficial owner of a share of the principalof the trust account in proportion to the amount of tax proceeds collected inthat county.
The Region may not disburse the principal of the trust account exceptpursuant to a contract that provides that, within a reasonable time not toexceed 20 years, the Region will recover or be repaid the amount disbursed. TheRegion may, in its discretion, set reasonable terms and conditions for therepayment of the principal disbursed, including provisions for securing thedebt and the payment of interest. (1993, c. 544, s.1; 1993 (Reg. Sess., 1994), c. 751, s. 3; c. 761, s. 33; 1995, c. 465, s. 1;2005‑364, s. 1.)
§ 158‑42. Temporary Region vehicle registrationtax.
(a) Levy. The Commission may, by resolution, after not lessthan 10 days' public notice and a public hearing, levy an annual registrationtax of five dollars ($5.00) on motor vehicles with a tax situs within theRegion. A tax levied under this section is in addition to any other motorvehicle license or registration tax.
The tax applies to vehicles required to pay a tax under G.S. 20‑88,except trailers, and G.S. 20‑87(1), (2), (4), (5), (6), and (7). The taxsitus of a motor vehicle for the purpose of this section is its ad valorem taxsitus. If the vehicle is not subject to ad valorem tax, its tax situs for thepurpose of this section is the ad valorem tax situs it would have if it weresubject to ad valorem tax.
(b) Effective Date; Expiration. The effective date of a taxlevied under this section shall be no earlier than July 1, 1994. The effectivedate of a tax levied under this section must be the first day of a calendarmonth set by the Commission in the resolution levying the tax, and shall be noearlier than the first day of the third calendar month after the adoption ofthe resolution.
The authority of the Region to levy a tax under this section expiresfive years after the effective date of the first tax levied under this section.A tax levied under this section expires when the Region's authority to levy thetax expires. The expiration of the tax does not affect the rights orliabilities of the Region, a taxpayer, or another person arising under thissection before the expiration of the tax; nor does it affect the right to anyrefund or credit of a tax that would otherwise have been available under thissection before the expiration of the tax.
(c) Repeal of Tax. The Commission may, by resolution, repeal atax levied under this section. The effective date of the repeal must be thefirst day of a calendar month set by the Commission in the resolution repealingthe tax, and shall be no earlier than the first day of the third calendar monthafter the adoption of the resolution. Repeal of the tax does not affect thedate the Region's authority to levy the tax expires under subsection (b) ofthis section. Repeal of the tax does not affect the rights or liabilities ofthe Region, a taxpayer, or another person arising under this section before theeffective date of the repeal; nor does it affect the right to any refund orcredit of a tax that would otherwise have been available under this sectionbefore the effective date of the repeal.
(d) Administration. The Division of Motor Vehicles of theDepartment of Transportation shall collect and administer a tax levied underthis section. Immediately after adopting a resolution levying or repealing atax under this section, the Commission shall deliver a certified copy of theresolution to the Division of Motor Vehicles. If the Secretary of State issuesan amended certificate of incorporation adding a county to the Region pursuantto G.S. 158‑33.1, the Commission shall deliver a certified copy of theamended certificate immediately to the Division of Motor Vehicles. If theCommission receives a resolution from a county withdrawing from the Regionpursuant to G.S. 158‑41, the Commission shall deliver a certified copy ofthe resolution immediately to the Division of Motor Vehicles.
A tax levied under this section is due at the same time and subject tothe same restrictions as the tax levied in G.S. 20‑87 and G.S. 20‑88.The tax shall be prorated in accordance with G.S. 20‑95. The Commissionerof Motor Vehicles may adopt rules necessary to administer the tax.
(e) Distribution of Tax Proceeds. The Commissioner of MotorVehicles shall credit the proceeds of the tax levied under this section to aspecial account and distribute the net proceeds on a quarterly basis to theRegion. Interest on the special account shall be credited quarterly to theHighway Fund to reimburse the Division of Motor Vehicles for the cost ofcollecting and administering the tax. The Commissioner of Motor Vehicles shallprovide the Region with an accounting of the percentage of proceeds collectedin each county of the Region in each quarter.
(f) Use of Tax Proceeds. The Region may use the proceeds ofthe tax levied under this section only for economic development projects andinfrastructure construction projects that are within the territorialjurisdiction of the Region but not within the Global TransPark Complex. TheRegion shall use the tax proceeds only for public purposes authorized by thisArticle.
The Region shall place fifteen percent (15%) of the tax proceedsdistributed to it under this section in a general funds account and theremaining eighty‑five percent (85%) in an interest‑bearing trustaccount. Each county shall be the beneficial owner of a share of the principalof the trust account in proportion to the amount of tax proceeds collected inthat county.
The Region may not disburse the principal of the trust account exceptpursuant to a contract that provides that, within a reasonable time not toexceed 20 years, the Region will recover or be repaid the amount disbursed. TheRegion may, in its discretion, set reasonable terms and conditions for therepayment of the principal disbursed, including provisions for securing thedebt and the payment of interest. (1993, c. 544, s.1; 1993 (Reg. Sess., 1994), c. 751, s. 3; c. 761, s. 33; 1995, c. 465, s. 1;2005‑364, s. 1.)
