South Carolina General Assembly
112th Session, 1997-1998

Bill 4872


Indicates Matter Stricken
Indicates New Matter


                    Current Status

Bill Number:                    4872
Type of Legislation:            General Bill GB
Introducing Body:               House
Introduced Date:                19980324
Primary Sponsor:                Cobb-Hunter
All Sponsors:                   Cobb-Hunter, McGee, Inabinett,
                                Lloyd, J. Hines, Breeland, Gourdine,
                                Canty, Clyburn, Byrd, McKay, Rhoad,
                                Cave, Stuart and Jennings 
Drafted Document Number:        PSD\7305MM.98
Residing Body:                  House
Current Committee:              Ways and Means Committee 30
                                HWM
Subject:                        Property Tax Relief Fund, school
                                district reimbursements when
                                insufficient for base year operating
                                millage

History

Body    Date      Action Description                       Com     Leg Involved
______  ________  _______________________________________  _______ ____________

House   19980324  Introduced, read first time,             30 HWM
                  referred to Committee


View additional legislative information at the LPITS web site.


(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND SECTION 12-37-251, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE PROPERTY TAX RELIEF FUND, BY PROVIDING THAT TAXING DISTRICTS MUST BE REIMBURSED ON A PER CAPITA BASIS FROM REVENUES CREDITED TO THE STATE PROPERTY TAX RELIEF FUND, AND TO PROVIDE THAT IF THE AMOUNT REIMBURSED TO A SCHOOL DISTRICT IS INSUFFICIENT TO REIMBURSE FULLY FOR THE BASE YEAR OPERATING MILLAGE, THE SCHOOL BOARD SHALL CALCULATE A SCHOOL OPERATING MILLAGE SUFFICIENT TO MAKE UP THE SHORTFALL.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. Section 12-37-251(B) of the 1976 Code, as last amended by Act 155 of 1997, is further amended to read:

"(B) School Taxing districts must be reimbursed, in the manner provided in Section 12-37-270, for the revenue lost as a result of the homestead exemption provided in this section except that ninety on a per capita basis from revenues credited to the State Property Tax Relief Fund. Ninety percent of the reimbursement must be paid in the last quarter of the calendar year on December first. If amounts received by a school district pursuant to this distribution are insufficient to reimburse fully for the base year operating millage, the local school board, within its authority, shall decide how to make up the shortfall, if necessary. Amounts received by a district in excess of the amount necessary to reimburse the district for the base year operating millage may be retained by the district."

SECTION 2. Upon approval by the Governor, this act is effective for tax years beginning after 1998.

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