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A97, R96, S550
Sponsors: Senator Leatherman
Document Path: l:\council\bills\ggs\22014htc03.doc
Introduced in the Senate on April 2, 2003
Introduced in the House on April 16, 2003
Passed by the General Assembly on May 21, 2003
Governor's Action: June 2, 2003, Signed
Summary: Dept. of Revenue and State Treasurer allowed to adjust misallocation of local option sales tax revenue collections and distributions to provide a corrected base
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 4/2/2003 Senate Introduced and read first time SJ-9 4/2/2003 Senate Referred to Committee on Finance SJ-9 4/9/2003 Senate Committee report: Favorable Finance SJ-24 4/10/2003 Senate Read second time SJ-13 4/15/2003 Senate Read third time and sent to House SJ-56 4/16/2003 House Introduced and read first time HJ-8 4/16/2003 House Referred to Committee on Ways and Means HJ-8 5/15/2003 House Committee report: Favorable Ways and Means HJ-6 5/20/2003 House Read second time HJ-18 5/21/2003 House Read third time and enrolled HJ-16 5/28/2003 Ratified R 96 6/2/2003 Signed By Governor 6/5/2003 Copies available 6/5/2003 Effective date 06/02/03 10/23/2003 Act No. 97
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VERSIONS OF THIS BILL
(A97, R96, S550)
A JOINT RESOLUTION TO ALLOW THE DEPARTMENT OF REVENUE AND THE STATE TREASURER'S OFFICE TO ADJUST MISALLOCATIONS OF LOCAL OPTION SALES TAX REVENUE COLLECTIONS AND DISTRIBUTIONS IN FISCAL YEAR 2001-2002 DURING THE SUCCEEDING TWO FISCAL YEARS FOR THE PURPOSE OF PROVIDING A ONETIME CORRECTED BASE FOR THE USE OF THE STATE TREASURER'S OFFICE IN CALCULATING FUTURE DISTRIBUTIONS AND PROVIDE THE MANNER IN WHICH THE STATE TREASURER'S OFFICE SHALL USE THE ADJUSTED AMOUNT FOR FUTURE DISTRIBUTIONS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The South Carolina Department of Revenue and the State Treasurer's Office may adjust misallocations of fiscal year 2001-2002 local option sales tax collections and distributions within a county area during fiscal year 2002-2003, or fiscal year 2003-2004. To comply with the provisions of Section 4-10-70 of the 1976 Code, the State Treasurer's Office may adjust the previous fiscal year's local option sales tax distribution received by an eligible unit within a county area to reflect this adjusted amount. This adjusted amount will then be the amount compared to the actual current fiscal year distributions of local option sales tax. For purposes of this section, local option sales tax means the sales and use tax imposed in a county area pursuant to Article 1, Chapter 10, Title 4 of the 1976 Code.
SECTION 2. This joint resolution takes effect upon approval by the Governor.
Ratified the 28th day of May, 2003.
Approved the 2nd day of June, 2003.
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