Senate Bill 354 Summary

• Increases registration fees for plug-in electric vehicles from $140.25 to $180.00 annually and adds a new $90.00 annual fee for plug-in hybrid vehicles, effective January 1, 2024.

• Removes the $2,000 cap on vehicle purchase tax, allowing the 3% tax to apply to the full purchase price of commercial motor vehicles and recreational vehicles.

• Imposes a new transportation network company tax of $0.50 per exclusive-ride service and $0.25 per shared-ride service for trips originating in North Carolina, starting January 1, 2024, with tax proceeds going to the Highway Fund.

• Allows the Department of Transportation and Turnpike Authority to each enter into up to three public-private partnership agreements, increasing the previous limit.

• All provisions effective January 1, 2024, except the public-private partnership modification which takes effect immediately upon enactment.