Reference is to the bill as introduced.
Amend the bill, as and if amended, by striking Section 12-36-2647, as contained in SECTION 2, page 2, and inserting:
/ Section 12-36-2647.
(A) Notwithstanding the
provisions of Section 59-21-1010, for fiscal years 2013-2014 and
2014-2015, fifty percent and thereafter one hundred percent of
sales, use, and casual excise tax revenues derived from the
sale, use, or titling of a vehicle required to be licensed and
registered by the South Carolina Department of Motor Vehicles,
otherwise required to be credited as provided pursuant to
Section 59-21-1010, instead must be credited to the State
Non-Federal Aid Highway Fund established pursuant to Section
57-11-20. Revenues credited to the State Non-Federal Aid
Highway Fund pursuant to this section must be used exclusively
for highway, road, and bridge maintenance, construction, and
(B) There is transferred from income tax revenues credited to the general fund of the State in each fiscal year to the Education Improvement Fund an amount sufficient to offset sales tax revenues not credited to the EIA fund as a result of the operation of this section. /
Renumber sections to conform.
Amend title to conform.