A BILL TO BE ENTITLED
AN ACT to eliminate the tax cap on the tax paid on the sales price of aircraft, boats, and recreational vehicles sold at retail.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 105‑164.4(a)(1b) reads as rewritten:
"(a)	A privilege tax is imposed on a retailer at the following percentage rates of the retailer's net taxable sales or gross receipts, as appropriate. The general rate of tax is four and three‑quarters percent (4.75%).
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(1b)	The rate of three percent (3%) applies to the sales price of each aircraft or boat sold at retail, including all accessories attached to the item when it is delivered to the purchaser. "
SECTION 2.  G.S. 105‑187.3(a) reads as rewritten:
"(a)	Amount. – The rate of the use tax imposed by this Article is three percent (3%) of the retail value of a motor vehicle for which a certificate of title is issued. The tax is payable as provided in G.S. 105‑187.4. The maximum tax is one thousand dollars ($1,000) for each certificate of title issued for a Class A or Class B motor vehicle that is a commercial motor vehicle, as defined in G.S. 20‑4.01. "
SECTION 3.  This act becomes effective July 1, 2012, and applies to sales made on or after that date.