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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-36-2575 SO AS TO PROVIDE THAT ANY TAXPAYER HOLDING A RETAIL SALES TAX LICENSE WHEN FILING A MONTHLY, QUARTERLY, OR OTHER PERIOD SALES TAX RETURN AND REMITTING A TAX DUE SHALL ON A VOLUNTARY BASIS ROUND THE TAX DUE UPWARD TO THE NEAREST WHOLE DOLLAR, AND TO PROVIDE THAT THE REVENUE RAISED BY THESE PROVISIONS MUST BE USED TO FUND THE TEACHER GRANT PROGRAM PROVIDED FOR IN SECTION 59-25-60; AND BY ADDING SECTION 59-25-60 SO AS TO PROVIDE THAT THE STATE BOARD OF EDUCATION SHALL ESTABLISH A REVOLVING FUND WITH FUNDS DERIVED FROM THE PROVISIONS OF SECTION 12-36-2575 TO OPERATE A GRANT PROGRAM TO PROVIDE RECURRING OR NONRECURRING AID TO SCHOOL DISTRICTS FOR ADDITIONAL TEACHER FUNDING FOR THE COMPENSATION OF AN ADDITIONAL TEACHER IN THOSE CLASSROOMS OF A SCHOOL DISTRICT WHERE TWO TEACHERS ARE MOST NEEDED.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Chapter 36, Title 12 of the 1976 Code is amended by adding:
"Section 12-36-2575. Any taxpayer holding a retail sales tax license when filing a monthly, quarterly, or other period sales tax return and remitting a tax due shall round the tax due upward to the nearest whole dollar. However, the rounding upward provisions of this section are voluntary on the part of the taxpayer and not mandatory, and any taxpayer not wishing to participate in rounding upward shall check an appropriate box on the sales tax return which the department shall develop and include on the return stating whether or not they wish to opt-out of these provisions. The department also shall develop and include on the return form a place for the taxpayer to state the original tax and the rounded up tax due. This additional amount must be considered sales taxes due and treated for all purposes of law as a sales tax remittance in the same manner other sales tax remittances are treated. The Department of Revenue also shall explain the provisions of this section to the extent it determines necessary on the reporting form. Nothwithstanding any other provision of law, the revenue received as determined by the Department of Revenue must be used to fund the teacher grant program provided for in Section 59-25-60, which must be transmitted to the State Board of Education through approved state procedures to be used for this purpose."
SECTION 2. Chapter 25, Title 59 of the 1976 Code is amended by adding:
"Section 59-25-60. The State Board of Education shall establish a revolving fund with funds derived from the provisions of Section 12-36-2575 to operate a grant program to provide recurring or nonrecurring aid to school districts for additional teacher funding for the compensation of an additional teacher in those classrooms of a school district where two teachers are most needed. One teacher must be an experienced lead teacher and the second teacher must be a certified first or second year teacher who shall act as an associate teacher to the lead teacher. The state board must manage the fund and promulgate regulations setting forth the requirements for a school district to become an aid recipient. In making aid determinations, the state board by regulation must establish a priority system where school districts with the most critical needs shall receive priority funding first, based on the requirements developed by the state board in these regulations."
SECTION 3. This act takes effect ninety days after approval by the Governor.
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