Current Status Introducing Body:
SenateBill Number: 1284Ratification Number: 549Act Number: 4 of 1995Primary Sponsor: HayesType of Legislation: GBSubject: Revenue bonds, special source; redevelopment project areaDate Bill Passed both Bodies: 19940602Computer Document Number: DKA/3335DW.94Introduced Date: 19940322Date of Last Amendment: 19940602Governor's Action: SDate of Governor's Action: 19950110Scope of Legislation: StatewideAll Sponsors: HayesType of Legislation: General Bill
Bill Body Date Action Description CMN Leg Involved ---- ------ ------------ ------------------------------ --- ------------ 1284 ------ 19950110 Act No. 4 of 1995 1284 ------ 19950110 Signed by Governor 1284 ------ 19940602 Ratified R 549 1284 Senate 19940602 Receded from its amendments 1284 Senate 19940602 Amended, returned to House with amendments 1284 Senate 19940602 Reconsidered vote whereby concurred in House amendments and ordered enrolled for ratification 1284 Senate 19940602 Recalled from Legislative Council 1284 Senate 19940602 Concurred in House amendment, enrolled for ratification 1284 House 19940602 Amended, read third time, returned to Senate with amendments 1284 House 19940602 Reconsidered vote whereby read third time 1284 House 19940602 Read third time, enrolled for ratification 1284 House 19940601 Read second time 1284 House 19940518 Recalled from Committee 30 1284 House 19940510 Introduced, read first time, 30 referred to Committee 1284 Senate 19940504 Read third time, sent to House 1284 Senate 19940503 Read second time 1284 Senate 19940428 Recalled from Committee, 06 placed on Calendar 1284 Senate 19940322 Introduced, read first time, 06 referred to CommitteeView additional legislative information at the LPITS web site.
(A4, R549, S1284)
AN ACT TO AMEND SECTION 4-29-68, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO SPECIAL SOURCE REVENUE BONDS, SO AS TO CLARIFY THAT REVENUES RECEIVED AND RETAINED BY A COUNTY, MUNICIPALITY, OR SPECIAL PURPOSE DISTRICT FROM A PAYMENT IN LIEU OF TAXES PURSUANT TO THE PROVISIONS OF SECTION 4-1-170, 4-29-60, OR 4-29-67 AND THESE REVENUES ARE DERIVED IN WHOLE OR IN PART FROM A REDEVELOPMENT PROJECT AREA ESTABLISHED PURSUANT TO CHAPTER 6, TITLE 31, SHALL ALLOCATE THE REVENUES IN ACCORDANCE WITH THE ORDINANCE OF THE MUNICIPALITY ADOPTED PURSUANT TO THE PROVISIONS OF SECTION 31-6-70 AS IF THESE REVENUES REMAINED AD VALOREM TAXES, PROVIDE THAT ALL TAXES COLLECTED IN THE REDEVELOPMENT PROJECT AREA NOT SUBJECT TO THE ORDINANCE OF THE MUNICIPALITY ADOPTED PURSUANT TO SECTION 31-6-70 BECOME PAYMENTS IN LIEU OF TAXES AND THE PORTION COLLECTED BY THE MUNICIPALITY MAY BE PLEDGED TO SECURE SPECIAL SOURCE REVENUE BONDS; PROVIDE THAT ANY REAL PROPERTY WHICH IS OR HAS BEEN INCLUDED WITHIN A MULTICOUNTY PARK UNDER SECTION 4-1-170 AND TITLE TO WHICH IS HELD BY THE STATE, MAY BE ANNEXED ONLY UPON APPROVAL BY THE BUDGET AND CONTROL BOARD; AND PROVIDE THAT ALL MULTICOUNTY PARKS MUST BE CONTIGUOUS COUNTIES.
Be it enacted by the General Assembly of the State of South Carolina:
Allocation of revenues
SECTION 1. Section 4-29-68 of the 1976 Code, as last amended by Act 123 of 1993, is further amended by adding:
"(F) A county, municipality, or special purpose district that receives and retains revenues from a payment in lieu of taxes pursuant to Section 4-1-170, 4-29-60, or 4-29-67 in which these revenues are derived in whole or in part from a redevelopment project area established pursuant to Title 31, Chapter 6 shall allocate these revenues in accordance with the ordinance of the municipality adopted pursuant to Section 31-6-70 as if these revenues remained ad valorem taxes. All taxes collected in the redevelopment project area which are not subject to the ordinance of the municipality adopted pursuant to Section 31-6-70 become payments in lieu of taxes and the portion collected by the municipality may be pledged to secure special source revenue bonds issued by the municipality pursuant to Section 4-1-175 or this section."
Annexation of property within a multicounty park
SECTION 2. Notwithstanding any other provision of law, any real property which is or has been included within a multicounty park under Section 4-1-170 and title to which is held by the State of South Carolina, may be annexed only upon approval by the Budget and Control Board.
Park must consist of contiguous counties
SECTION 3. All multicounty parks must consist of contiguous counties.
SECTION 4. This act takes effect upon approval by the Governor.
Approved the 10th day of January, 1995.