North Carolina Statutes
§ 105-554 — Use of tax proceeds
North Carolina·Ch. 105 Taxation·Art. 50 Regional Transit Authority Vehicle Rental Tax·Subch. IX MULTICOUNTY TAXES
An Authority that levies a tax under this Article may use the proceeds of the tax for any purpose for which the Authority is authorized to use funds. An Authority shall use the tax proceeds to supplement and not to supplant or replace existing funds or other resources for public transportation systems. Authorized purposes for which an Authority may use funds include the following:
(1)Pledging funds in connection with the financing of a public transportation system or any part of a public transportation system.
(2)Paying a note, bond, or other obligation entered into by the Authority pursuant to Article 26 or Article 27 of Chapter 160A of the General Statutes. (1997-417, s. 3.)
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Nearby Sections
15
§ 105-1.1
Supremacy of State Constitution§ 105-103
Unlawful to operate without license§ 105-106
Effect of change in name of firm§ 105-109
Obtaining license and paying tax§ 105-109.1
Repealed by Session Laws 1999-337, s. 16§ 105-113.10
Manufacturers exempt from paying tax§ 105-113.105
Purpose§ 105-113.107
Excise tax on unauthorized substances§ 105-113.108
Reports; revenue stamps§ 105-113.109
When tax payable