With a retroactive effective date of January 1, 2014, Session Laws 2016-5 amends the sales and use tax exemption in N.C. Gen. Stat. § 105-164.4I(b)(3). Pursuant to N.C. Gen. Stat. § 105-164.4I(b)(3), as amended, sales and use tax does not apply to the sales price of or the gross receipts derived from a “service contract,” as the term is defined in N.C. Gen. Stat. § 105-164.3(38b), for “[a] transmission, an engine, rear-end gears, and any other item purchased, leased, or rented by a professional motorsports racing team or a related member of a team for which the team or related member may receive a sales tax exemption under [N.C. Gen. Stat. §] 105-164.13(65) or [N.C. Gen. Stat. §] 105-164.13(65a) or a sales tax refund under [N.C. Gen. Stat. §] 105-164.14A(a)(5).” The exemption expires January 1, 2020.