NEW: Gov. McCrory signs bill cutting NC gas tax

NEW: Gov. McCrory signs bill cutting NC gas tax

RALEIGH, NC (WECT) - Governor Pat McCrory has signed a bill setting the gas tax through the end of 2016, and agreeing on a calculation for the tax in the years to follow.

The substitute agreed on by a conference committee sets the gas tax at a flat thirty-six cents (36) per gallon for the rest of this calendar year, down from the current thirty-seven-and-a-half cents (37.5) per gallon. From January 1, 2016 to June 30, 2016, the gas tax will be thirty-five cents (35) a gallon, and will drop to thirty-four cents (34) a gallon from July 1, 2016 to the end of the calendar year.

"This bill will allow us to build roads, strengthen bridges and fix potholes so people can get to their jobs, go to school, see their doctors and drive to the mountains or the beach," Governor McCrory said in an email news release "We now have a gas tax that is based on North Carolina's transportation needs instead of the unpredictability of the world oil market."

In January of 2017, the tax will be thirty-four cents (34) per gallon, multiplied by a percentage that Senate leader Phil Berger (R-Rockingham) called "a new, more stable formula based on population and energy prices" in an email news release.

The House passed the substitute bill on third reading by a 79-39 vote. The Senate's vote was 41-8, with Sen. Bill Rabon (R-Brunswick), Sen. Michael Lee (R-New Hanover) and Sen. Jane Smith (D-Columbus, Robeson) supporting the measure.

"This bipartisan agreement between the House and Senate provides immediate tax relief for drivers as we pursue long-term transportation funding reform," Transportation Committee Co-Chairman Sen. Bill Rabon (R-Brunswick) said in the same news release. "And it takes an important first step to ensure North Carolina has the resources necessary to build and maintain roads and bridges that safely connect our citizens to their jobs and families."

To see the bill, click here:

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