Amends GS 105-472(b)(1) (per capita distribution method) by providing that tax collected in a taxing county is to be distributed to that county and the municipalities in the county on a per capita basis according to the total population of the county (previously included the total population of the municipalities in the county). Directs the Secretary of Revenue, in order to make a distribution, to determine a per capita figure by dividing the amount allocated to each taxing county by the total population of that county (previously included the population of all municipalities), and then multiply that figure by the unincorporated population of the taxing county and by the population of each municipality in the county and distribute as specified. Amends GS 105-472(b)(2) (ad valorem distribution method) by directing that the net proceeds of the tax collected in a taxing county are to be distributed to that county and the municipalities according to each unit’s proportional share. Provides the methods used to determine the county’s and each municipality’s share.