S 0983 General Bill, By Thomas, Kuhn, Ravenel, Cromer, Knotts, Hawkins, Grooms, O'Dell, Fair and Mescher
Summary: Tax reform, additional 2% sales tax to replace residential and automobile property tax
    A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING ARTICLE 11 IN CHAPTER 36 OF TITLE 12 SO AS TO IMPOSE AN ADDITIONAL STATE SALES AND USE TAX EQUAL TO TWO PERCENT AND TO REIMBURSE PROPERTY TAXING ENTITIES FOR PROPERTY TAX CREDITS ALLOWED AGAINST PROPERTY TAXES ON MOTOR VEHICLES AND MOTORCYCLES AND OWNER-OCCUPIED RESIDENTIAL PROPERTY; TO AMEND CHAPTER 37; TITLE 12, BY ADDING ARTICLE 25 SO AS TO PROVIDE A PROPERTY TAX CREDIT AGAINST PROPERTY TAX FOR OPERATING PURPOSES OTHERWISE DUE ON PRIVATE PASSENGER MOTOR VEHICLES AND MOTORCYCLES AND OWNER-OCCUPIED RESIDENTIAL PROPERTY AND PROVIDE THE METHOD OF CALCULATING THE CREDITS AND THE REIMBURSING OF PROPERTY TAXING ENTITIES FOR THE PROPERTY TAX NOT COLLECTED BECAUSE OF THE CREDITS; TO AMEND SECTION 6-1-320, RELATING TO THE LIMITS ON ANNUAL INCREASES IN LOCAL GOVERNMENT AND SCHOOL DISTRICT PROPERTY TAX MILLAGE, SO AS TO REQUIRE ALL INCREASES, INCLUDING ADJUSTMENTS FOR INFLATION, TO BE APPROVED IN A REFERENDUM HELD AT THE TIME OF THE GENERAL ELECTION, AND TO PROVIDE TRANSITIONAL PROVISIONS AND EFFECTIVE DATES.
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02/19/04	Senate	Introduced and read first time SJ-5
02/19/04	Senate	Referred to Committee on Finance SJ-5