AN ACT TO ALLOW A COUNTY FROM THE EASTERN REGION TO RECEIVE A DISBURSEMENT OF ITS SHARE OF THE MOTOR VEHICLE REGISTRATION TAX PROCEEDS AS WELL AS PAYMENTS MADE BY THE COUNTY IN LIEU OF TAXES. Enacted July 10, 2013. Effective July 1, 2013.
Summary date: Jul 11 2013 - View summary
Summary date: Jun 26 2013 - View summary
Senate committee substitute to the 3rd edition makes the following changes. Amends GS 158-42 to delete the provision removing a county from the Region upon acceptance of the disbursement.
Expands the scope of the act so that it also applies to Carteret, Duplin, Edgecombe, Greene, Jones, Lenoir, Nash, Onslow, Pamlico, Pitt, Wayne, and Wilson counties.
House amendment makes the following changes to the 2nd edition.
Amends GS 158-42(g), providing that upon accepting the disbursement of funds provided for in this section, the county will be removed from the Region.
Adds new Section 2.1, providing that this act only applies to Craven County.
House committee substitute makes the following changes to the 1st edition.
Changes the short and long title.
Deletes the provisions of the 1st edition in its entirety and makes the following proposed changes.
Enacts a new subsection GS 158-42(g), regarding disbursement of tax proceeds, providing that the North Carolina's Eastern Region (Region) will disburse to a participating county, after receipt of a resolution adopted by the county's board of commissioners, its net share of tax proceeds which have been placed in trust. A county's net share is the total amount in the trust attributable to that county, less the total amount of outstanding loans from the Region and less any amount attributable to an appropriation made to the Region by the General Assembly. A resulting negative amount results in the county not being entitled to a disbursement. Disbursed funds can only be used for economic development purposes, as described in this subsection.
Repeals GS 158-41(a) concerning withdrawal from the Region.
Effective July 1, 2013.
Summary date: Feb 14 2013 - View summary
Amends GS 158-41 to allow a county withdrawing from the Eastern Region to receive its portion of temporary vehicle registration tax proceeds, which must be used for economic development purposes (previously, counties could not receive early distribution but could receive a share of Region assets, as specified). Effective July 1, 2013.