N.C. Gen. Stat. § 105-449.125
Distribution of tax revenue among various funds and accounts
Redline — June 1, 2021 → current.View current text →
Current — June 1, 2022
As of June 1, 2021
(1) Distribution to Funds. — The Secretary shall allocate the amount of revenue collected under this Article from an excise tax of one-half cent (1/2›) a gallon to the following funds and accounts in the percentages indicated:
(1) Distribution to Funds. — The Secretary shall allocate the amount of revenue collected under this Article from an excise tax of one-half cent (1/2¢) a gallon to the following funds and accounts in the percentages indicated:
(2) (Effective until July 1, 2021) Distribution of Remaining Revenue. - The Secretary shall allocate the remaining excise tax revenue collected under this Article, including any revenue that is allocated but not distributed under subsection (a) of this section, as follows: Eighty-one percent (81%) to the Highway Fund.
(2) (Effective until July 1, 2021) Distribution of Remaining Revenue. — The Secretary shall allocate the remaining excise tax revenue collected under this Article, including any revenue that is allocated but not distributed under subsection (a) of this section, as follows: Eighty-one percent (81%) to the Highway Fund.
(3) Nineteen percent (19%) to the Highway Trust Fund.
(3) Nineteen percent (19%) to the Highway Trust Fund. (b) (Effective July 1, 2021 until July 1, 2022) Distribution of Remaining Revenue. — The Secretary shall allocate the remaining excise tax revenue collected under this Article, including any revenue that is allocated but not distributed under subsection (a) of this section, as follows: (1) Eighty percent (80%) to the Highway Fund. (2) Twenty percent (20%) to the Highway Trust Fund. (b) (Effective July 1, 2022) Distribution of Remaining Revenue. — The Secretary shall allocate the remaining excise tax revenue collected under this Article, including any revenue that is allocated but not distributed under subsection (a) of this section, as follows: (1) Seventy-five percent (75%) to the Highway Fund. (2) Twenty-five percent (25%) to the Highway Trust Fund.
(5) Twenty percent (20%) to the Highway Trust Fund.
(6) (Effective July 1, 2022) Distribution of Remaining Revenue. - The Secretary shall allocate the remaining excise tax revenue collected under this Article, including any revenue that is allocated but not distributed under subsection (a) of this section, as follows: Seventy-five percent (75%) to the Highway Fund.
(7) Twenty-five percent (25%) to the Highway Trust Fund.
(4) Accounting. — The Secretary shall charge a proportionate share of a refund allowed under this Article to each fund or account to which revenue collected under this Article is credited. The Secretary shall credit revenue or charge refunds to the appropriate funds or accounts on a monthly basis.
Fund or Account Amount Commercial Leaking Petroleum Underground Storage Tank Cleanup Fund Sixty-two and one-half percent (62.5%) Water and Air Quality Account Twenty-eight and one-tenth percent (28.1%).
Fund or Account Amount Commercial Leaking Petroleum Underground Storage Tank Cleanup Fund Sixty-two and one-half percent (62.5%) Water and Air Quality Account Twenty-eight and one-tenth percent (28.1%).
History
(1995, c. 390, s. 3; 2015-241, s. 29.27B(a), (b); 2016-5, s. 4.11(a), (b); 2016-94, s. 14.3; 2020-91, s. 4.6(a)-(c).)
Subsection (b) Set Out Three Times - The first version of subsection (b) set out above is effective until July 1, 2021, and applicable to excise tax revenue collected by the Department on or after that date. The second version of subsection (b) set out above is effective until July 1, 2022, and applicable to excise tax revenue collected by the Department on or after that date. The third version of subsection (b) set out above is effective July 1, 2022, and applicable to excise tax revenue collected by the Department on or after that date.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.