NC H927

Increases motor fuel excise tax from 35 cents to 30 cents per gallon effective July 1, 2015, with automatic annual adjustments based on population growth (75%) and consumer price index changes (25%), plus additional 1-cent increases if federal highway funding declines by $100 million.

Raises highway use tax rate from 3% to 4% effective January 1, 2016, with maximum tax increasing from $1,000 to $2,000 for commercial vehicles and recreational vehicles, plus 0.5% additional increase if federal funding to Department of Transportation declines by $200 million.

Increases various Division of Motor Vehicles fees effective January 1, 2016, including driver's license fees, registration and title fees, learner's permit fees, and commercial driver's license fees, with increases ranging from 25% to 50%.

Establishes 6.5% supplemental tax on gross premiums from motor vehicle insurance contracts effective January 1, 2016, with proceeds credited to Highway Fund.

Appropriates $300 million for fiscal year 2015-2016 and $530 million for each of fiscal years 2016-2019 from Highway Fund for contract resurfacing (45-65%), seaport modernization and dredging (20-40%), municipal street resurfacing (10%), and bridge repair (5%).