Removes the nine tracts of described property from the corporate limits of the Town of Fuquay-Varina.  Provides that the act has no effect upon the validity of any liens of the Town of Fuquay-Varina for ad valorem taxes or special assessments outstanding before the effective date of the act. Allows those liens to be collected or foreclosed upon after the effective date of this act as though the property were still within the corporate limits of the Town of Fuquay-Varina.

Effective June 30, 2024. Specifies that the property in the territory described as of January 1, 2024, is no longer subject to municipal taxes for taxes imposed for taxable years beginning on or after July 1, 2024.