Agenda - 09-03-1991 - Laserfiche WebLink

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5 the tax. under the yams )rocedures as i)roviil(:d in subsection d of this section and sub ect to the limitations provided in subsections and of this section, I, ' Collection of the increased or decreased tax. and liability therefor. shall begin and continue only on and after_ the first duty of a calendar month set by the Board of Trustees in the resolution increasing- or -reducing the tax which shall in no case be earlier than the first day of the third. calendar month after the adoption of the resolution. The effective elate of the termination of the tax shall be only on and after the first day of a calendar month set by the Board of Trustees in the resolution term inatingthe tax which shall in no case he earlier than the first day of the third calendar month after the adol2tion of the resolution. No liability_. for any tax levied under this section which shall have attached prior to the effective date on which a levv is terminated or reduced shall be discharized as a result of such termination or reduction and no right to a refund of tax or otherwise which shall have accrued prior to the effective date on which a levv is terminated or reduced shall be denied as a result of such termination. Vehicles Sub•ect to Tax. Only vehicles required to pay a tax under G.S.-20- 87 1 2 4 5 6 and 7 and G.S. 20-88 shall be subject to the tax provided by this section. Taxes shall be prorated in accordance with G.S. 20-66 or G.S. 20-95 as applicable. - h Tax Situs. The fact that the county listed b • the owner under G.S. 105-314 as the county where the vehicle is subject to ad valorem taxation is within the territorial jurisdiction of the Authority shall be prinia facie evidence that the vehicle has a tax situs within the territorial jurisdiction of the Authority-. i Distribution of Proceeds. Taxes aid under this section shall be credited to a special fund and the net proceeds disbursed Quarterly to the appropriate Authorit . Interest credited to the fund shall be disbursed quarterly to the Highway Fund to reimburse the Division of Motor Vehicles for the cost-of collecting and administering, the tax, 6-1) Limitation on Expenditures. Of the proceeds of the tax the Authority may not expend more than two percent„(,211/0 on_ administrative expenses. When Special Tax Board and Board of County Commissioners Authorization Necessarv, No Authority may adopt a resolution to levy_ any tax under this section, or to increase the amount of the ley , unless the special tax board of that Authority and the board of county commissioners of each county organizing the Authority have first passed a resolution approving the levy or increase except where the ley or increase in tax is necessary for debt service on bonds or notes that special tax board and each of the boards of county commissioners had previously approved- under G.S. 159-51. The Special Tax Board and Board of Count Commissioners u on ado tion of the resolution shall cause a certified copy of the resolution to be delivered immediate) to the Authority and to the Division of Motor Vehicles,." Sec. 3. G.S. 105-314(a) reads as rewritten: "(a) Every motor vehicle owner applying to the State Division of Motor Vehicles for motor .vehicle license tags, or for renewal of such. shall specify in the application the county in which each such motor vehicle is subject to ad valorem taxation. If any such vehicle is not subject to ad valorem taxation in this State, that fact, with the reason therefor, shall be stated in the application. No State license tags shall be issued to any applicant, or renewed for such applicant until the requirements of this subsection have been met. It shall be a misdemeanor to knowingly make a false statement in the application as to the information required to be supplied by this section." Sec. 4. Chapter 160A of the General Statutes is amended by adding a new section to read: " 160.E-624. Recommendation of additi»gal revenue sources. 2 House Bill 80