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ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> Action Agenda <br /> Item No. <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: November 3, 1997 <br /> SUBJECT: Triangle Transit Authority Transit Plan Update and Resolution Approving the Levy of a <br /> Rental Vehicle Tax <br /> DEPARTMENT: County Manager PUBLIC HEARING: (Y/N) <br /> BUDGET AMENDMENT: (Y/N) <br /> ATTACHMENT(S): <br /> (1) Resolution by TTA Approving Tax and INFORMATION CONTACT: <br /> letter from Thomas F. Darden John M. Link, Jr. <br /> (2) Transcript of Public Hearing TELEPHONE NUMBERS: --ext. 2300 <br /> (3) Resolution for Approving Tax by Orange, Hillsborough 732-8181 <br /> Durham and Wake Counties and Regional Chapel Hill 968-4501 <br /> Public Transportation Authority Durham 688-7331 <br /> Mebane 227-2031 <br /> PURPOSE: To receive an update on the Triangle Transit Authority Transit Plan and to consider <br /> the adoption of a resolution approving the levy of a rental vehicle tax of five percent by the <br /> Authority. <br /> BACKGROUND: In August, 1997,the North Carolina General Assembly adopted and the <br /> Governor signed House Bill 1231,An Act to Authorize Supplemental Sources of Revenue for Local <br /> Government Transit Financing. For the Triangle region, this legislation pen-nits up to a five percent <br /> tax on the short term rental of private passenger vehicles and motorcycles. In combination with the <br /> existing vehicle registration fee,passenger fares and investment income, the rental vehicle tax is <br /> sufficient to fund the local/regional share necessary to implement Phase I of the Regional Transit <br /> Plan, including both the regional rail system and expanded regional bus service. <br /> The Triangle Transit Authority Board of Trustees, by the attached resolution passed on September <br /> 24, 1997,requests that the Orange County Board of County Commissioners consider adopting a <br /> resolution approving a rental vehicle tax levy of five percent, effective the later of January 1, 1998 <br /> or the first day of the second month after the Board of Trustees adopts the Rental Vehicle Tax Levy <br /> Resolution. (See Attachment 1.) <br /> The Triangle Transit Authority conducted a public hearing on the vehicle rental tax on October 22, <br /> 1997. (Please see Attachment 2.) <br /> RECOMMENDATION(S): The Manager recommends that the Board of Commissioners adopt <br /> the resolution as presented. (Attachment 3) <br />