Senate Bill 704 (S.L 2020-3), signed into law on May 4, 2020 by Governor Cooper, extends the due date of any credentials, permits, and registrations issued by DMV, and waives any penalties or fees for not complying with the original due dates of such items. The bill also extends the due date of motor vehicle tax payments to match the revised expiration dates. Due dates for related vehicle inspections also are extended five months. This extension applies for any of the above-listed items that are due on or after March 1 and before August 1, 2020. Subsequent years’ deadlines for these items will return to the previous due dates. Local governments should consider the impact these extensions will have on motor vehicle tax revenue and the related cash flows when considering budgets (both 19-20 and 20-21) and cash flow needs.
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