§ 105-564. Distribution and use of proceeds. - North Carolina Statutes

§105‑564.  Distribution and use of proceeds.

The Authority shall retain thenet proceeds of taxes it collects under this Article. Taxes collected by theDivision of Motor Vehicles under this Article shall be credited to a specialfund and the net proceeds disbursed quarterly to the appropriate Authority.Interest credited to the fund shall be disbursed quarterly to the Highway Fundto reimburse the Division of Motor Vehicles for the cost of collecting andadministering the tax.

An Authority that levies a taxunder this Article may use the proceeds of the tax for any purpose for whichthe Authority is authorized to use funds. An Authority shall use the taxproceeds to supplement and not to supplant or replace existing funds or otherresources for public transportation systems. (1997‑417, s. 4.)