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Indicates Matter Stricken
Indicates New Matter
COMMITTEE REPORT
April 6, 2004
S. 973
S. Printed 4/6/04--S. [SEC 4/7/04 2:05 PM]
Read the first time February 18, 2004.
To whom was referred a Bill (S. 973) to amend Section 12-37-251, Code of Laws of South Carolina, 1976, relating to the trust fund for tax relief, so as to provide that operating, etc., respectfully
That they have duly and carefully considered the same and recommend that the same do pass with amendment:
Amend the bill, as and if amended, by striking SECTION 2 and inserting:
/ SECTION 2. This act takes effect upon approval by the Governor and is applicable for property tax years beginning after 2003. /
Renumber sections to conform.
Amend title to conform.
HUGH K. LEATHERMAN, SR. for Committee.
REVENUE IMPACT
This bill is not expected to have any impact on state revenues. School districts would not be impacted in the aggregate. Disbursements within school districts affected by this bill could see some differences, but they are expected to increase millage to make up any shortfalls.
Explanation
Under current law, the amount of money to reimburse school districts for the $100,000 school operations exemption granted under Code Section 12-37-251 has been capped at the Fiscal Year 2002 level of $249,069,750. This bill would not remove the cap and is not expected to have any impact on state revenues. We have identified five counties that have county boards of education and three others that levy millage for alternative schools or career and technology centers. This bill would include millage levied for alternative schools, career and technology centers, and county boards of education in the school operating millage used to calculate the $100,000 school operations exemption. Since the total amount of money available to reimburse school districts is capped and each district gets reimbursed the prior years amount, the total amount of money going back to each district will remain the same. School districts that do not have the millage levied for alternative schools, career and technology centers, and county boards of education built into their current base will see a change within their district of what is currently allocated to them.
Approved By:
William C. Gillespie
Board of Economic Advisors
1/ This statement meets the requirement of Section 2-7-71 for a state revenue impact, Section 2-7-76 for a local revenue impact, and Section 6-1-85(B) for an estimate of the shift in local property tax incidence.
TO AMEND SECTION 12-37-251, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE TRUST FUND FOR TAX RELIEF, SO AS TO PROVIDE THAT OPERATING MILLAGE LEVIED IN A COUNTY FOR ALTERNATIVE SCHOOLS, CAREER AND TECHNOLOGY CENTERS, AND COUNTY BOARDS OF EDUCATION WHETHER OR NOT LEVIED COUNTYWIDE OR ON A SCHOOL DISTRICT BY SCHOOL DISTRICT BASIS ALSO IS CONSIDERED SCHOOL OPERATING MILLAGE TO WHICH THE PROPERTY TAX EXEMPTION PROVIDED BY THIS SECTION APPLIES, AND TO PROVIDE THAT COUNTY TREASURERS SHALL CONSIDER THESE OPERATING MILLAGES IN DETERMINING REVENUE LOST WHEN MAKING DISBURSEMENTS TO SCHOOL DISTRICTS FROM TRUST FUNDS FOR TAX RELIEF FUNDS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-37-251(B) of the 1976 Code is amended by adding a new item (3) to read:
"(3) Operating millage levied in a county for alternative schools, career and technology centers, and county boards of education whether or not levied countywide or on a school district by school district basis in a county also is considered school operating millage to which the property tax exemption provided by this section applies. County treasurers shall consider these operating millages in determining revenue lost when making disbursements to school districts from trust fund for tax relief funds under this section."
SECTION 2. This act takes effect upon approval by the Governor.
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