Bill Summary for H 537 (2019-2020)
Apr 9 2019
|View NCGA Bill Details||2019-2020 Session|
AN ACT TO REDUCE THE ALTERNATE HIGHWAY USE TAX ON VEHICLE SUBSCRIPTIONS.Intro. by Conrad, Howard, Setzer, D. Hall.
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House committee substitute to the 1st edition makes the following changes.
Amends the proposed changes to GS 105-187.9 to require $30 million (rather than $10 million) of the taxes collected at the rate of 8% (was, those collected at the rates of 5% and 8%) under Article 5A, NC Highway Use Tax, to be credited annually to the Highway Fund, with the remainder credited to the General Fund. Now requires taxes collected at the rate of 5% under Article 5A to be credited to the Highway Fund.