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Bill 559

                    Current Status

Bill Number:                      559
Ratification Number:              146
Type of Legislation:              General Bill GB
Introducing Body:                 Senate
Introduced Date:                  20010405
Primary Sponsor:                  Finance Committee SF 06
All Sponsors:                     Finance Committee
Drafted Document Number:          l:\council\bills\bbm\10157htc01.doc
Date Bill Passed both Bodies:     20010621
Date of Last Amendment:           20010621
Governor's Action:                V
Date of Governor's Action:        20010627
Action on Governor's Veto:        S
Subject:                          Electric or natural gas bill, late 
                                  payment for exempt from sales tax; 
                                  Electricity, Fuel, Taxation


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
Senate  20010628  Veto sustained
------  20010627  Vetoed by Governor
------  20010621  Ratified R146
House   20010621  Concurred in Senate amendment, 
                  enrolled for ratification
Senate  20010621  House amendments amended the second
                  time, returned to House with amendment
Senate  20010522  House amendments amended
------  20010518  Scrivener's error corrected
House   20010518  Read third time, returned with
                  amendment
House   20010517  Amended, read second time, 
                  unanimous consent for third reading 
                  on Friday, 20010518
House   20010516  Committee report: Favorable with       30 HWM
                  amendment
House   20010417  Introduced, read first time,           30 HWM
                  referred to Committee
Senate  20010417  Read third time, sent to House
Senate  20010410  Read second time, notice of
                  general amendments
Senate  20010405  Introduced, read first time,
                  placed on Calendar without reference


              Versions of This Bill
Revised on April 5, 2001 - Word format
Revised on May 16, 2001 - Word format
Revised on May 17, 2001 - Word format
Revised on May 18, 2001 - Word format
Revised on May 22, 2001 - Word format
Revised on June 21, 2001 - Word format

NOTE: THIS COPY IS A TEMPORARY VERSION. THIS IS NOT THE FINAL VERSION.

(R146, S559)

AN ACT TO AMEND SECTION 12-36-2120, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO SALES TAX EXEMPTIONS, SO AS TO EXEMPT, EFFECTIVE JULY 1, 2006, THE GROSS PROCEEDS OF SALES OF FOOD ITEMS ELIGIBLE FOR PURCHASE WITH UNITED STATES DEPARTMENT OF AGRICULTURE FOOD COUPONS, TO PROVIDE FOR PHASING DOWN THE RATE OF THE SALES TAX ON THESE ITEMS IN INCREMENTS OF ONE PERCENT, TO PROVIDE FOR THE APPLICATION OF THIS EXEMPTION TO LOCAL SALES AND USE TAXES, AND TO PROVIDE GENERAL FUND ACCOUNTING CHANGES TO HOLD HARMLESS STATE REVENUES FOR PUBLIC EDUCATION.

Be it enacted by the General Assembly of the State of South Carolina:

Exemption allowed, tax rate reduced

SECTION 1. A. Section 12-36-2120 of the 1976 Code is amended by adding an appropriately numbered item at the end to read:

"( ) effective July 1, 2006, food items eligible for purchase with United States Department of Agriculture food coupons. The exemption allowed by this item does not extend to a local sales and use tax imposed pursuant to a referendum held before July 1, 2001, except where a local sales and use tax specifically exempts these items. The exemption allowed by this item applies to a local sales and use tax imposed pursuant to a referendum held after June 30, 2001. An amount of general fund revenue not derived from the state sales and use tax equal to the amount of state sales and use tax revenue not collected because of the exemption allowed by this item is deemed state sales and use tax revenue and must be used as provided in Section 59-21-1010(A) and (B), including the appropriate amount required to be credited to the Education Act Improvement Fund;"

B. Notwithstanding the rates of tax imposed pursuant to Chapter 36, Title 12 of the 1976 Code, the rate of tax imposed pursuant to that chapter on the gross proceeds of sales, or the sale price of food items eligible for purchase with United States Department of Agriculture food coupons, is four percent for sales from July 1, 2001, through June 30, 2003, three percent for such sales from July 1, 2003, through June 30, 2004, two percent for such sales from July 1, 2004, through June 30, 2005, and one percent for such sales from July 1, 2005, through June 30, 2006. An amount of general fund revenue not derived from the state sales and use tax equal to the state sales and use tax not collected because of the reduced state sales tax rate allowed by this section is deemed state sales and use tax revenue and must be used as provided in Section 59-21-1010(A) and (B) of the 1976 Code, including whatever amount is necessary to be credited to the Education Act Improvement Fund so that the total in that fund is not reduced by the reduced rates allowed by this section. Except where otherwise exempt, the local sales and use taxes authorized by law continue to apply to those sales subject to the reduced state rate of tax provided in this section, but such a tax imposed pursuant to a referendum held after June 30, 2001, does not apply to those sales subject to the reduced state rate of tax provided in this section.

Time effective

SECTION 2. This act takes effect July 1, 2001.

Ratified the 21st day of June, 2001.

__________________________________________

President of the Senate

___________________________________________

Speaker of the House of Representatives

Approved the ____________ day of _____________________2001.

___________________________________________

Governor

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