South Carolina General Assembly
112th Session, 1997-1998

Bill 881


                    Current Status

Bill Number:                    881
Ratification Number:            292
Act Number:                     458
Type of Legislation:            General Bill GB
Introducing Body:               Senate
Introduced Date:                19980114
Primary Sponsor:                Peeler 
All Sponsors:                   Peeler 
Drafted Document Number:        jic\5068htc.98
Date Bill Passed both Bodies:   19980220
Date of Last Amendment:         19980217
Governor's Action:              S
Date of Governor's Action:      19980407
Subject:                        Cherokee County School District
                                No. 1, property tax refund provided
                                from excess sales and use tax
                                collected

History

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

------  19980910  Act No. A458
------  19980407  Signed by Governor
------  19980401  Ratified R292
House   19980220  Read third time, enrolled for
                  ratification
House   19980219  Read second time, unanimous consent
                  for third reading on the next
                  Legislative day
House   19980218  Introduced, read first time,
                  placed on Calendar without reference
Senate  19980218  Read third time, sent to House
Senate  19980217  Read second time, unanimous
                  consent for third reading on
                  Wednesday, 19980218
Senate  19980217  Amended
Senate  19980114  Introduced, read first time,
                  placed on local and uncontested
                  Calendar without reference
Senate  19971215  Prefiled, placed on Local and
                  Uncontested Calendar without reference


View additional legislative information at the LPITS web site.


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

(A458, R292, S881)

AN ACT TO AMEND ACT 588 OF 1994, RELATING TO THE ONE CENT SALES AND USE TAX IMPOSED FOLLOWING REFERENDUM APPROVAL IN CHEROKEE COUNTY FOR DEBT SERVICE ON BONDED INDEBTEDNESS OF CHEROKEE COUNTY SCHOOL DISTRICT 1 AND THE PER PUPIL ALLOCATION FOR CAPITAL PROJECTS TO ANY OTHER SCHOOL DISTRICT IN CHEROKEE COUNTY, SO AS TO REQUIRE A PRO RATA REFUND OF PROPERTY TAXES FOR BONDED INDEBTEDNESS FOR SCHOOLS FROM EXCESS SALES AND USE TAX COLLECTED FOR THIS PURPOSE IN THE FOLLOWING YEAR IN THE FORM OF A CREDIT AGAINST PROPERTY TAX, TO PROVIDE THE METHOD OF CALCULATING THE CREDIT, TO PROVIDE FOR A DIRECT REFUND WHEN NO CREDIT CAN BE APPLIED, AND TO PROVIDE A MINIMUM TEN-DOLLAR REBATE OR REFUND.

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

Rebate

SECTION 1. Section 6(B) of Act 588 of 1994 is amended to read:

"(B) The Cherokee County Treasurer holding taxes collected pursuant to this act must certify to the auditor of the county on July fifteenth of each calendar year as to the amount of taxes held by that county treasurer as of June thirtieth of the calendar year. The Cherokee County Auditor shall reduce the next levy of ad valorem property taxes required to pay debt service on bonds to which the tax is applicable by the amount of tax revenues certified as collected as of June thirtieth by the county treasurer. Taxes collected as of June thirtieth of a calendar year in excess of the amounts required to pay debt service due in the eighteen months following June thirtieth on bonds to which the tax is applicable must be applied to reduce the next levy of ad valorem property taxes required for payment of operational and maintenance expenses of Cherokee County School District 1. If the amounts certified collected as of June thirtieth exceed the amount required for debt service following a year in which the amount certified as collected was insufficient to eliminate the levy, then the excess in the current year must be rebated pro rata to property taxpayers who paid the levy in the prior year in the form of a credit against the taxpayer's current property taxes as they become due and payable. When such a credit cannot be applied, and upon application of the taxpayer, the rebate must be refunded directly to the taxpayer. The pro rata rebate percentage must be determined by dividing the excess amount by the total assessed value of the property taxed. The credit is then determined by multiplying the property owner's assessed value by the pro rata rebate percentage. No credit or refund is allowed for amounts less than ten dollars."

Time effective

SECTION 2. This act takes effect upon approval by the Governor.

Approved the 7th day of April, 1998.