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TO AMEND SECTION 12-45-430, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE ISSUANCE OF TAX RECEIPTS BY A COUNTY TREASURER UPON FULL PAYMENT OF THE TAXES AND CHARGES DUE, SO AS TO PROVIDE THAT A COUNTY TREASURER MAY ACCEPT A LESSER AMOUNT THAN THE ORIGINAL TAX BILL TOGETHER WITH ANY APPLICABLE PENALTIES, COSTS, AND CHARGES WHENEVER A BANKRUPTCY PROCEEDING AUTHORIZES A LESSER AMOUNT TO BE PAID, AND TO PROVIDE THAT THE AUDITOR MAY PREPARE A TAX BILL TO AUTHORIZE NEGOTIATED TAXES AS A RESULT OF A BANKRUPTCY.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-45-430 of the 1976 Code, as added by Act 145 of 2005, is amended to read:
"Section 12-45-430. A county treasurer may not issue a tax receipt to a taxpayer unless the taxes, any applicable penalties and costs, and all other charges included on the tax bill have been paid in full. However, a county treasurer may accept a lesser amount than the original tax bill together with any applicable penalties, costs, and charges whenever a bankruptcy proceeding authorizes a lesser amount to be paid. The auditor may prepare a tax bill to authorize negotiated taxes as a result of a bankruptcy."
SECTION 2. This act takes effect upon approval by the Governor.
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