Download This Version in Microsoft Word format
Indicates Matter Stricken
Indicates New Matter
COMMITTEE AMENDMENT ADOPTED
May 14, 2001
S. 408
Introduced by Senators Ryberg, Wilson, J. Verne Smith and Leatherman
S. Printed 5/14/01--S.
Read the first time March 6, 2001.
TO AMEND SECTION 11-43-160, AS AMENDED, RELATING TO SOURCES OF REVENUE FOR THE SOUTH CAROLINA TRANSPORTATION INFRASTRUCTURE BANK, SO AS TO REQUIRE AN ANNUAL CONTRIBUTION TO THE BANK FROM THE DEPARTMENT OF TRANSPORTATION IN AN AMOUNT NOT TO EXCEED AN AMOUNT EQUIVALENT TO THE REVENUES OF ONE CENT OF THE GASOLINE TAX AND TO PROVIDE THAT THIS CONTRIBUTION MAY BE MADE FROM ANY REVENUES OF THE DEPARTMENT OF TRANSPORTATION BUT, TO THE EXTENT POSSIBLE, MUST NOT BE TAX REVENUE.
Amend Title To Conform
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. A. Section 11-43-160(A)(1) of the 1976 Code, as amended by Act 100 of 1999, is further amended to read:
"(1) an annual contribution from the Department of Transportation set by the board of an amount not to exceed an amount equivalent to the revenues produced by one cent a gallon of the tax on gasoline imposed pursuant to Section 12-28-310;"
B. Section 11-43-160 of the 1976 Code, as last amended by Act 100 of 1999, is further amended by adding at the end:
"(C) The contribution provided in subsection (A)(1) of this section may be made from any revenues under the control of the Department of Transportation, but to the extent possible, the contribution must be made from sources which are not revenues of any state tax."
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on Thursday, June 25, 2009 at 2:17 P.M.