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Proposed Amendments to Chapter 624 (H 20) <br /> <br />December 18, 1991 <br /> <br /> 1. Add a new section to amend'G.S. 105-333(9) and (16) <br />as follows: (9) "Locally assigned rolling stock" means <br />motor vehicles (including passenger cars and service <br />vehicles) which are owned or leased by a motor freight <br />carrier company and specifically assigned to a terminal or <br />other premises and regularly used at the premises to which <br />assigned. <br /> <br /> (16) "Rolling stock" means buses, trucks, tractor <br />trucks, trailers, semitrailers, combinations thereof, and <br />other motor vehicles (including passenger cars and service <br />vehicles), and railroad locomotives and cars, which are <br />propelled by mechanical or electrical power and used upon <br />the highways or, in the case of railroads, upon tracks. <br /> <br />2. Repeal G.S. 105-329. <br /> <br /> 3. Amend G.S. 105-330.1 as follows: Ail motor <br />vehicles, except (i) motor vehicles exempt from registration <br />pursuant to G.S. 20-51, (ii) manufactured homes, and (iii) <br />motor vehicles owned by a public service company or leased <br />by a public service company and appraised under G.S. 105- <br />335, are hereby designated a special class of property under <br />authority of Article V, Sec. 2(2) of the North Carolina <br />Constitution. Classified motor vehicles shall be listed and <br />assessed as provided in this Article, and taxes on <br />classified motor vehicles shall be collected as provided in <br />this Article. <br /> <br />4. Amend G.S. 105-330.2(a) to read: <br /> <br /> (a) The value of a classified motor vehicle that is <br />registered shall be determined annually as of January l <br />preceding the date a new registration is applied for or the <br />current registration is renewed. If the value of a new <br />motor vehicle cannot be determined as of January I preceding <br />the date the new registration is applied for, the value of <br />that vehicle shall be determined for that year as of the <br />date that model vehicle is first offered for sale at retail <br />in this state. The value of a classified motor vehicle that <br />is unregistered shall be determined as of January i of the <br />year in which the motor vehicle is required to be listed <br />pursuant to G.S. 105-330.3(a)(2). The ownership, situs, and <br />taxability of a classified motor vehicle listed pursuant to <br />G.S. 105-330.3(a) (1) shall be determined annually as of the <br />day on which the current vehicle registration is renewed or <br />the day on which a new registration is applied for. The <br />ownership, situs, and taxability of a classified motor <br />vehicle listed or discovered pursuant to G.S. 105- <br /> <br /> <br />