Bill Summary for H 537 (2019-2020)

Summary date: 

Apr 15 2019

Bill Information:

View NCGA Bill Details2019-2020 Session
House Bill 537 (Public) Filed Tuesday, April 2, 2019
AN ACT TO REDUCE THE ALTERNATE HIGHWAY USE TAX ON VEHICLE SUBSCRIPTIONS.
Intro. by Conrad, Howard, Setzer, D. Hall.

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Bill summary

House committee substitute makes the following changes to the 2nd edition.

Further amends GS 105-187.5 to make technical changes to refer to a "limited possession commitment" throughout.

Modifies the proposed changes to GS 105-187.9 to now require $10 million of the taxes collected at the rate of 5 percent and 8 percent under Article 5A to be credited annually to the Highway Fund, with the remainder credited to the General Fund (was, $30 million of the taxes collected at 8 percent to the Highway Fund and all taxes collected under the 5 percent rate to be credited to the Highway Fund). 

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