North Carolina § 105-449.125 Distribution of tax revenue among various funds and accounts

North Carolina Statutes

§ 105-449.125 — Distribution of tax revenue among various funds and accounts

North Carolina § 105-449.125

Ch. 105Taxation

Art. 36CGasoline, Diesel, and Blends

Subch. VMOTOR FUEL TAXES

This text of North Carolina § 105-449.125 (Distribution of tax revenue among various funds and accounts) is published on Counsel Stack Legal Research, covering North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.C. Gen. Stat. § 105-449.125 (2026).

Text

(a)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: 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%).

(b)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.

(c)Accounting. -

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(a) 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:
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%).
(b) 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.
(c) 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. (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).)