H 3583 General Bill, By Walker, Anthony, Bailey, Ceips, Dantzler, Davenport, Delleney, Harrison, Herbkersman, Hinson, Littlejohn, Mahaffey, Townsend, Coates, McGee, G.A. Brown and Pinson
Similar (H 3664, H 4011)
Summary: School Trust Fund created
    A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING ARTICLE 11 TO CHAPTER 36, TITLE 12, SO AS TO IMPOSE AN ADDITIONAL STATE SALES, USE, AND CASUAL EXCISE TAX EQUAL TO TWO AND ONE-HALF PERCENT OF GROSS PROCEEDS OF SALES OR SALES PRICE, AND TO PROVIDE THAT THIS ADDITIONAL TWO AND ONE-HALF PERCENT TAX DOES NOT APPLY TO THE TAX ON ACCOMMODATIONS; BY AMENDING SECTION 11-11-150, AS AMENDED, RELATING TO THE TRUST FUND FOR TAX RELIEF, SO AS TO PROVIDE THAT REVENUES FROM THE TRUST FUND FOR TAX RELIEF TO BE DISTRIBUTED TO A SCHOOL DISTRICT SHALL BE PAID MONTHLY IN AN AMOUNT THAT IS THE DISTRICT'S PROPORTIONATE SHARE OF TRUST FUND REVENUES BASED ON WEIGHTED PUPIL UNITS AS DETERMINED UNDER THE EDUCATION FINANCE ACT; BY ADDING SECTION 11-11-155 SO AS TO CREATE THE SCHOOL TRUST FUND AND REQUIRE REVENUES OF THE ADDITIONAL SALES AND USE TAX AND ADDITIONAL REVENUE GENERATED BY REVISING SALES TAX CAPS TO BE CREDITED TO THIS FUND; BY AMENDING SECTION 12-36-2110, AS AMENDED, RELATING TO THE MAXIMUM SALES, USE, AND CASUAL EXCISE TAX ON VARIOUS ITEMS OF TANGIBLE PERSONAL PROPERTY, INCLUDING MOTOR VEHICLES, SO AS TO RAISE THE MAXIMUM TAX; BY ADDING SECTION 12-37-253 SO AS TO PROVIDE FOR A PROPERTY TAX EXEMPTION FOR CERTAIN PROPERTY FROM SCHOOL OPERATING MILLAGE NOT OTHERWISE EXEMPT, TO PROVIDE THE METHOD OF DETERMINING AND PHASING IN THE EXEMPTION, TO PROVIDE REIMBURSEMENTS TO SCHOOL DISTRICTS FOR THIS NEW EXEMPTION WITH A PAYMENT BASED ON WEIGHTED PUPIL UNITS AS DETERMINED UNDER THE EDUCATION FINANCE ACT, TO PROVIDE FOR CERTAIN LIMITS ON THE AMOUNT OF MILLAGE FOR SCHOOL OPERATIONS A SCHOOL DISTRICT MAY IMPOSE AFTER THE ABOVE PROVISIONS TAKE EFFECT; BY AMENDING CHAPTER 20, TITLE 59, RELATING TO THE EDUCATION FINANCE ACT, SO AS TO REVISE THE MANNER IN WHICH WEIGHTINGS USED TO PROVIDE FOR RELATIVE COST DIFFERENCES BETWEEN STUDENTS ARE DETERMINED, REVISE THE MANNER IN WHICH SCHOOL DISTRICT FUNDING UNDER THIS ACT IS DISTRIBUTED INCLUDING ELIMINATING THE INDEX OF TAXPAYING ABILITY AND A MODIFICATION OF THE FORMULA FOR COMPUTING BASE STUDENT COST, AND REQUIRE THE GENERAL ASSEMBLY BEGINNING WITH FISCAL YEAR 2007 TO PROVIDE ALLOCATIONS TO SCHOOL DISTRICTS BASED ON THE FULL AMOUNT OF BASE STUDENT COST DETERMINED UNDER THIS CHAPTER; BY REPEALING SECTION 59-21-160 RELATING TO STATE APPROPRIATIONS TO SCHOOL DISTRICTS; AND BY REPEALING SECTION 59-21-1030 RELATING TO THE LEVEL OF FINANCIAL EFFORT PER PUPIL REQUIRED OF SCHOOL DISTRICTS; BY REPEALING ARTICLE 3, CHAPTER 10 OF TITLE 4, RELATING TO THE CAPITAL PROJECT SALES TAX ACT, AND CHAPTER 37 OF TITLE 4 RELATING TO OPTIONAL METHODS FOR FINANCING TRANSPORTATION FACILITIES INCLUDING LEVY OF ADDITIONAL SALES TAXES, AND TO PROVIDE THAT SALES TAXES FOR PROJECTS PREVIOUSLY AUTHORIZED UNDER THESE PROVISIONS SHALL CONTINUE UNTIL THEIR SCHEDULED TERMINATION DATE; TO REQUIRE A REFERENDUM IN COUNTIES IN WHICH THE LOCAL OPTION SALES TAX IS CURRENTLY IMPOSED FOR THE PURPOSE OF DETERMINING WHETHER TO RESCIND THE TAX AND BY PROVIDING THAT THIS ACT TAKES EFFECT JULY 1, 2006, AND APPLIES FOR PROPERTY TAX YEARS BEGINNING AFTER 2006 AND MOTOR VEHICLE TAX YEARS BEGINNING AFTER JUNE 30, 2006.
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02/16/05	House	Introduced and read first time HJ-57
02/16/05	House	Referred to Committee on Ways and Means HJ-59
02/17/05	House	Member(s) request name added as sponsor: Coates, McGee, G.A.Brown, Pinson