Bill Summary for S 351 (2017-2018)
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Summary date:
Mar 22 2017
Bill Information:
| View NCGA Bill Details | 2017-2018 Session |
AN ACT TO CREDIT TO THE HIGHWAY FUND THE TAXES COLLECTED ON THE SHORT-TERM LEASE OR RENTAL OF A MOTOR VEHICLE AND TO APPROPRIATE A CERTAIN AMOUNT OF FUNDS FROM THE HIGHWAY FUND TO BE USED FOR RUNWAY IMPROVEMENTS AT THE RALEIGH-DURHAM INTERNATIONAL AIRPORT.Intro. by Rabon.
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Bill summary
As title indicates, amends GS 105-187.9(a) to credit taxes collected under Article 5A of GS Chapter 105 at the rate of 8% (tax imposed on short-term lease or rental of a vehicle, set out in GS 105-187.5(b)) to the Highway Fund (currently, credited to the General Fund). Applies to taxes collected on or after that July 1, 2017.
Appropriates $50 million in nonrecurring funds to the Raleigh-Durham Airport Authority from the Highway Fund for each fiscal year of the 2017-19 biennium. States that the funds are to be used for improvements to the runways at the RDU Airport to accommodate additional international flights. Effective July 1, 2017.