Download This Bill in Microsoft Word format
Current Status Bill Number:View additional legislative information at the LPITS web site.3285 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19990119 Primary Sponsor:Cobb-Hunter All Sponsors:Cobb-Hunter, M. McLeod, Bales, Ott, Hayes Drafted Document Number:l:\council\bills\ggs\22102sd99.doc Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Property Tax Relief Fund, school district reimbursement on per capita basis, funds, operating millage; Taxation History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ House 19990119 Co-Sponsor added (Rule 5.2) by Rep. Hayes House 19990119 Co-Sponsor added (Rule 5.2) by Rep. Ott Senate 19990119 Introduced, read first time, 30 HWM referred to Committee Versions of This Bill
TO AMEND SECTION 12-37-251, AS AMENDED, OF THE 1976 CODE, RELATING TO THE PROPERTY TAX RELIEF FUND, SO AS TO REVISE HOW SCHOOL DISTRICTS SHALL BE REIMBURSED FROM THE PROPERTY TAX RELIEF FUND, INCLUDING A PROVISION FOR REIMBURSEMENT ON A PER CAPITA BASIS, TO PROVIDE FOR THE MANNER IN WHICH DISTRICTS MUST USE THESE FUNDS RECEIVED, TO PROVIDE THAT IF THE AMOUNT REIMBURSED TO A SCHOOL DISTRICT IS INSUFFICIENT TO REIMBURSE FULLY FOR THE BASE YEAR OPERATING MILLAGE, THE SCHOOL BOARD SHALL CALCULATE A SCHOOL OPERATING MILLAGE SUFFICIENT TO MAKE UP THE SHORTFALL, AND TO PROVIDE THAT NO DISTRICT SHALL RECEIVE LESS THAN IT RECEIVED DURING THE 1998-99 FISCAL YEAR.
Be it enacted by the General Assembly of the State of South Carolina:
Section 1. Section 12-37-251 (B) of the 1976 Code, as last amended by Act 155 of 1997, is further amended to read:
"(B) School districts must be reimbursed, in the manner provided in Section 12-37-270, for the revenue lost as a result of the homestead exemption provided in this section except that ninety on a per capita basis from revenues credited to the State Property Tax Relief Fund. Ninety percent of the reimbursement must be paid in the last quarter of the calendar year on December first. If amounts received by a school district pursuant to this distribution are insufficient to reimburse fully for the base year operating millage, the local school board, within its authority, shall decide how to make up the shortfall, if necessary. Amounts received by a district in excess of the amount necessary to reimburse the district for the base year operating millage must first be used to reduce any operating millage imposed since the 1995 base year, must next be used for school debt service purposes and any funds remaining may then be retained by the district. Notwithstanding the above provisions, no district shall receive less than the dollar amount of reimbursement it received during fiscal year 1998-99."
SECTION 2. This act takes effect upon approval by the Governor for property tax years beginning after 1999.
This web page was last updated on Wednesday, December 9, 2009 at 9:13 A.M.