NC H107

Allows Eastern Region counties to request disbursement of their share of motor vehicle registration tax proceeds held in trust by adopting a board resolution.

County receives its net share calculated as total trust fund amount attributable to that county minus outstanding regional loans and minus any amounts from General Assembly appropriations.

Applies only to 13 Eastern Region counties: Carteret, Craven, Duplin, Edgecombe, Greene, Jones, Lenoir, Nash, Onslow, Pamlico, Pitt, Wayne, and Wilson.

Disbursed funds may only be used for economic development purposes, including land, buildings, facilities, infrastructure, programs, and information systems to promote business or industry.

Effective July 1, 2013.