It's still ludicrous. I'm not a civil engineer, but I was discussing this with my friends who are. In summary, the amount of damage that a vehicle does to a road is proportional to the fourth power of its weight.
A Nissan Leaf weighs 3,291 pounds (source: http://www.nissanusa.com/electric-cars/leaf/versions-specs/). A GMC Yukon Denali weighs 5,491 pounds (source: http://www.gmc.com/yukon-denali-luxury-suv/features-specs/ca...), or 1.67 times more. It should do approximately 7.75 more damage to the roads it drives over than the Leaf will.
At an average of 15,000 per year, the Yukon owner getting 16 mpg (source: average of 14mpg city and 18mpg highway from http://www.gmc.com/yukon-denali-luxury-suv/features-specs/po...) will burn about 950 gallons of gas per year. At $0.563 per gallon tax (source: combined state and federal taxes from http://en.wikipedia.org/wiki/Fuel_taxes_in_the_United_States), that owner will pay about $550 per year in taxes.
If NC is being honest about their reasons for taxing electric vehicle owners, then the Yukon owner is being subsidized about $225 a year (should pay: $775, will pay: $550) for driving a more polluting, more damaging vehicle. That's assuming that electricity is completely untaxed in NC so that the Leaf driver is paying only that $100 tax.
TL;DR This isn't about fundraising. It's about protecting gas-burning vehicle markets.