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HOUSE AMENDMENTS AMENDED----NOT PRINTED
May 22, 2001
S. 559
S. Printed 5/22/01--S.
Read the first time April 17, 2001.
TO AMEND SECTION 12-36-90, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE DEFINITION OF "GROSS PROCEEDS OF SALES" FOR PURPOSES OF THE SOUTH CAROLINA SALES TAX ACT, SO AS TO PROVIDE THAT GROSS PROCEEDS OF SALES DO NOT INCLUDE INTEREST, FEES, OR CHARGES IMPOSED ON A CUSTOMER FOR LATE PAYMENT OF A BILL FOR ELECTRICITY OR NATURAL GAS, OR BOTH, WHETHER OR NOT SALES TAX IS REQUIRED TO BE PAID ON THE UNDERLYING BILL.
Amend Title To Conform
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. A. Section 12-36-90(2) of the 1976 Code is amended by adding an appropriately lettered sub item at the end to read:
"( ) interest, fees, or charges however described, imposed on a customer for late payment of a bill for electricity or natural gas, or both, whether or not sales tax is required to be paid on the underlying electricity or natural gas bill."
B. Notwithstanding the general effective date of this act, this section takes effect upon approval by this act by the Governor and applies with respect to retail sales occurring on or after that date and sales before that date for all periods remaining open for the assessment of taxes by agreement or by operation of law. However, a refund is not due a taxpayer of sales and use tax paid on interest, fees, or charges, however described, imposed on a customer for late payment of a bill for electricity or natural gas, or both, before the effective date of this section.
SECTION 2. Section 12-36-2120(28)(a) of the 1976 Code, as last amended by Act 399 of 2000, is further amended to read:
"(a) medicine and prosthetic devices sold by prescription, prescription medicines used in the treatment of renal disease, prescription medicines and therapeutic radiopharmaceuticals used in the treatment of cancer, lymphoma, leukemia, or related diseases, including prescription medicines used to relieve the effects of any such treatment, and free samples of prescription medicine distributed by its manufacturer and any use of these free samples."
SECTION 3. Section 12-36-2120(32) of the 1976 Code is amended to read:
"(32) natural, propane, and liquefied petroleum gas and electricity used exclusively in the production of poultry, livestock, swine, and milk and to produce agricultural plants in greenhouses that subsequently will be replanted;"
SECTION 4. Section 12-36-2120 of the 1976 Code is amended by adding two appropriately numbered items at the end to read:
"( ) wheelchairs;
( ) prosthetic devices and replacement parts for such devices not exempted pursuant to item (28) of this section."
SECTION 5. A. Section 12-36-2120 of the 1976 Code is amended by adding an appropriately numbered item at the end to read:
( ) food items eligible for purchase with United States Department of Agriculture food coupons, provided that this exemption takes effect July 1, 2001. The exemption allowed by this item does not apply 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. Beginning in fiscal year 2001-2002 and each fiscal year thereafter a portion of all general fund revenues equal to one hundred and twenty percent of the amount of general fund revenue collected from the imposition of sales and use tax on food items eligible for purchase with United States Department of Agriculture food coupons during the last complete fiscal year the full five percent tax was imposed 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 general effective date of this act, this section takes effect July 1, 2001.
SECTION 6. This act takes effect upon approval by the Governor.
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