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H. 4699

STATUS INFORMATION

General Bill
Sponsors: Reps. Duncan, M.A. Pitts, Simrill, Moody-Lawrence, Bailey, Chellis, Clark, Dantzler, Gourdine, Littlejohn, Lourie, Owens, Pinson, Rice, W.D. Smith, Snow, Stille, Taylor, Toole, Umphlett and Weeks
Document Path: l:\council\bills\ggs\22429htc04.doc

Introduced in the House on February 4, 2004
Currently residing in the House Committee on Ways and Means

Summary: Income tax return, contribution to K-12 public education provided

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
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    2/4/2004  House   Introduced and read first time HJ-33
    2/4/2004  House   Referred to Committee on Ways and Means HJ-34

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

2/4/2004

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-6-5100 SO AS TO ALLOW A TAXPAYER WHO WISHES TO MAKE A CONTRIBUTION TOWARD K-12 PUBLIC EDUCATION IN THIS STATE TO DO SO BY DESIGNATING FIVE DOLLARS TO BE PAID WITH HIS INCOME TAX RETURN IN THE MANNER PROVIDED BY THIS SECTION AND TO PROVIDE THAT FUNDS DERIVED FROM THESE CONTRIBUTIONS MUST BE TRANSFERRED TO THE STATE DEPARTMENT OF EDUCATION AND USED TO INCREASE THE BASE STUDENT COST PROVIDED PURSUANT TO THE EDUCATION FINANCE ACT.

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

SECTION    1.    Article 37, Chapter 6, Title 12 of the 1976 Code is amended by adding:

"Section 12-6-5100.    (A)    A taxpayer who wishes to make a contribution toward K-12 public education in this State may do so by designating to that purpose five dollars to be paid with his income tax return in the manner provided by this section. The contribution may be made by reducing the taxpayer's income tax refund or by remitting an additional payment, or both.

(B)    All South Carolina individual income tax return forms must contain a designation for the above contribution. The instructions accompanying the income tax form must contain a description of the purposes for which the funds were established and the use of monies from the income tax contribution. The Department of Revenue shall transfer the amounts received for this purpose to the State Department of Education for use in K-12 public education. These funds are deemed to have appropriated for the purpose of increasing base student cost pursuant to the Education Finance Act.

(C)    The Department of Revenue by regulation shall implement the provisions of this section. For purposes of this section, the South Carolina Department of Revenue is not subject to provisions of the South Carolina Solicitation of Charitable Funds Act as contained in Chapter 56, Title 33."

SECTION    2.    This act takes effect upon approval by the Governor and first applies for income tax returns filed for taxable year 2004.

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