NC H244

Increases the maximum tax rate on gross receipts that regional Transportation Authorities may levy on vehicle and motorcycle rental businesses from 5% to 8%.

Applies to retailers engaged in short-term leasing or renting of U-drive-it vehicles or motorcycles whose place of business or inventory is located within the Authority's territorial jurisdiction.

Increases the cap for special transportation districts from 5% to 8%, with combined rates across the entire Authority territory not to exceed 8%.

Requires board of commissioners approval from each county in a special district before the Authority can levy or increase the tax within that district.

Applies only to regional transportation authorities established under Article 27 of Chapter 160A of the General Statutes and becomes effective upon enactment.