Amends GS 20-28.3 to provide that a motor vehicle driven by a person charged with felony speeding to elude arrest under GS 20-141.5(b) is subject to seizure. Clarifies throughout that the Division of Motor Vehicles is the agency designated by the Governor to receive notice from the charging officer that a vehicle is subject to forfeiture and the agency responsible for issuing written notice of an impoundment to the vehicle owner and any lienholder of record. Provides that a defendant charged with felony speeding to elude arrest who is convicted pursuant to a plea agreement or a reduced charge of misdemeanor speeding to elude arrest under GS 20-141.5(a) shall be ordered to pay as restitution to the county board of education, the motor vehicle owner, or the lienholder the costs of towing and storing the vehicle. Amends GS 20-141.5(f) to require law enforcement agency policies to address factors to be considered by an officer when determining when to initiate or terminate a pursuit (was, determining when to break off a chase to stop and apprehend a suspect). Amends GS 20-141.5(g) to provide that the owner of or holder of a security interest in a vehicle driven by a defendant who commits the offense of felony speeding to elude arrest is an innocent party with respect to the vehicle if the defendant drove the vehicle without his or her consent. Makes other conforming changes. Effective October 1, 2011, and applies to offenses committed on or after that date.