§ 105-330.10. (Effective until January 1, 2011 - See Editor's note) Combined Motor Vehicle and Registration Account. - North Carolina Statutes

§ 105‑330.10. (Effective until January 1, 2011 – See Editor's note) Combined Motor Vehicleand Registration Account.

(a)        Account. – TheCombined Motor Vehicle and Registration Account is established as anonreverting account within the Department of State Treasurer. A taxing unitmust remit to the Department of State Treasurer for deposit into the Accountsixty percent (60%) of the first month's interest collected under G.S. 105‑330.4on unpaid property taxes on classified and registered motor vehicles. Thetaxing unit must make the remittance on a monthly basis. Interest earned by theAccount accrues to the Account.

(b)        Use. – Funds in theAccount may be used only to develop and implement an integrated computer systemwithin the Division of Motor Vehicles of the Department of Transportation thatprovides the functions needed for the assessment, billing, and collection ofboth the property taxes and the vehicle registration fees due on motorvehicles. The funds may not be transferred to the Division and expended forthis purpose until the Department of Transportation and the North CarolinaAssociation of County Commissioners agree on the project plan for theintegrated system and the General Assembly appropriates the funds to theDivision. If funds remain in the Account after the operation of the integratedsystem is certified, the remaining funds must be distributed to localgovernments on a pro rata basis determined on the amount of revenue each localgovernment transferred to the Account.

(c)        Report. – The Treasurermust make an annual report on the Account to the Revenue Laws Study Committee.The report must be submitted by November 1 of each year and must state thetotal amount of revenue transferred by local governments to the Account duringthe preceding fiscal year, the amount expended from the Account during thepreceding fiscal year, and any other information requested by the Committee.  (2005‑294, s. 8; 2006‑30,s. 3; 2006‑259, s. 31.5; 2007‑471, s. 7(a); 2007‑527, s.22(b); 2008‑134, s. 63.)

§ 105‑330.10. (Effective January 1, 2011 – See Editor's note) Disposition of interest.

The interest collected onunpaid registration fees pursuant to G.S. 105‑330.4 shall be transferredon a monthly basis to the North Carolina Highway Fund for technology improvementswithin the Division of Motor Vehicles.  (2005‑294, ss. 8, 9; 2006‑30, s. 3; 2006‑259,s. 31.5; 2007‑471, s. 7(a); 2007‑527, s. 22(a)‑(c); 2008‑134,ss. 63, 65, 66, 79.)

§ 105‑330.10. (Effective July 1, 2011 – See Editor's note) Disposition of interest.

The interest collected onunpaid registration fees pursuant to G.S. 105‑330.4 shall be transferredon a monthly basis to the North Carolina Highway Fund for technologyimprovements within the Division of Motor Vehicles.  (2005‑294, ss. 8, 9;2006‑30, s. 3; 2006‑259, s. 31.5; 2007‑471, s. 7(a); 2007‑527,s. 22(a)‑(c); 2008‑134, ss. 63, 65, 66, 79; 2009‑445, s.25(b).)