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Bill 258

                    Current Status

Bill Number:                      258
Type of Legislation:              General Bill GB
Introducing Body:                 Senate
Introduced Date:                  20010201
Primary Sponsor:                  Alexander
All Sponsors:                     Alexander
Drafted Document Number:          l:\council\bills\dka\4066mm01.doc
Residing Body:                    Senate
Current Committee:                Finance Committee 06 SF
Subject:                          Income tax returns, penalty increased 
                                  when check or electronic payment returned to 
                                  Revenue; Banks, Checks, Fraudulent


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
Senate  20010201  Introduced, read first time,           06 SF
                  referred to Committee


              Versions of This Bill

TO AMEND SECTION 12-54-50, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE PENALTY FOR A CHECK OR ELECTRONIC PAYMENT RETURNED TO THE DEPARTMENT OF REVENUE ON ACCOUNT OF INSUFFICIENT FUNDS, SO AS TO INCREASE THE PENALTY FEE FROM FIFTEEN DOLLARS TO THE AMOUNT PROVIDED IN SECTION 34-11-70 FOR THE SERVICE CHARGE ON A FRAUDULENT CHECK, AND TO PROVIDE THAT THE DIFFERENCE IN THE AMOUNTS BE RETAINED BY THE DEPARTMENT AND USED TO COLLECT AND RECORD THE RELATED TAX.

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

SECTION 1. Section 12-54-50 of the 1976 Code is amended to read:

"Section 12-54-50. When the bank on which If an uncertified check or electronic payment is tendered to the department in payment of an obligation due to the department and the bank on which it is drawn refuses payment of the check or electronic payment on account of due to insufficient funds of the drawer in the bank and returns the check or electronic payment is returned to the department, a penalty of fifteen dollars equal to the charge provided in Section 34-11-70(a) must be imposed. The difference between fifteen dollars and the amount provided in Section 34-11-70(a) must be retained by the department and expended in budgeted operations to collect and record the related tax. This penalty is in addition to and separate from any other penalty that may be imposed by the department. This section applies to all taxes or license fees levied or assessed by the department."

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

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