GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2003

 

 

SESSION LAW 2004-103

HOUSE BILL 1700

 

 

AN ACT TO EXTEND THE SUNSET ON THE DURHAM CITY ADDITIONAL MUNICIPAL VEHICLE TAX AND CONCERNING THE PURPOSES FOR WHICH THOSE FUNDS MAY BE EXPENDED.

 

The General Assembly of North Carolina enacts:

 

SECTION 1.  Section 4 of S.L. 2003-329 reads as rewritten:

"SECTION 4. Section 1 of this act is effective when it becomes law and expires one year five years after that date. The remainder of this act is effective when it becomes law."

SECTION 2. Section 3 of S.L. 2003-329 reads as rewritten:

"SECTION 3. This act applies to the City of Durham only. Any funds generated by a tax of over five dollars ($5.00) under Section 1 of this act shall be placed into a separate fund for public transportation within the City of Durham and the principal shall not be spent. The interest earned on those funds may be expended by the City of Durham solely for the purpose of public transportation."

SECTION 3.  This act is effective when it becomes law.

In the General Assembly read three times and ratified this the 15th day of July, 2004.

 

 

                                                                    s/ Beverly E. Perdue

                                                                         President of the Senate

 

 

                                                                    s/ James B. Black

                                                                         Speaker of the House of Representatives