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Sponsors: Senators Hayes, Ceips, Knotts, Setzler, Bryant, Scott, Campbell, Vaughn, Fair and Rankin
Document Path: l:\council\bills\bbm\10426htc08.doc
Introduced in the Senate on March 5, 2008
Currently residing in the Senate Committee on Finance
Summary: Homestead Exemption Fund
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 3/5/2008 Senate Introduced and read first time SJ-5 3/5/2008 Senate Referred to Committee on Finance SJ-5
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO AMEND SECTION 11-11-156, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE MANNER IN WHICH THE SCHOOL DISTRICTS OF THE STATE RECEIVE REIMBURSEMENTS FROM THE HOMESTEAD EXEMPTION FUND, SO AS TO PROVIDE THAT FROM THE TOTAL TIER THREE REIMBURSEMENT INCREASES ATTRIBUTABLE TO POPULATION INCREASES, A SCHOOL DISTRICT MUST RECEIVE AN AMOUNT REFLECTING THE PROPORTION THAT THE POPULATION INCREASE OF THAT PARTICULAR SCHOOL DISTRICT IS OF STATEWIDE POPULATION GROWTH BUT NOT LESS THAN THE AMOUNT IT RECEIVED PURSUANT TO THIS CALCULATION FOR THE PRIOR YEAR.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 11-11-156(A)(2) of the 1976 Code, as last amended by Act 57 of 2007, is further amended to read:
"(2) Beginning in fiscal year 2008-2009 a school district shall receive in reimbursements the total of what it received in fiscal year 2007-2008 plus the tier three reimbursement increases provided for in item (3). From the total tier three reimbursement increases attributable to population increases, a school district must receive an amount reflecting the proportion that the population increase of that particular school district, as determined pursuant to item (4) of this subsection, is of statewide population growth as determined pursuant to item (3) of this subsection but not less than the amount it received pursuant to this calculation for the prior year. The inflation factor portion of the tier three reimbursement increases of the several school districts as provided in item (3) for any year must be aggregated and the reimbursement increase a particular school district shall receive for that year attributable to the inflation factor must be equal to an amount that is the school district's proportionate share of such funds based on the district's weighted pupil units as a percentage of statewide weighted pupil units as determined annually pursuant to the Education Finance Act. For purposes of the reimbursement increases school districts receive under this subsection based on weighted pupil units determined pursuant to the Education Finance Act, an additional add-on weighting for students in poverty of 0.20 must be included in the weightings provided in Section 59-20-40(1)(c) of the 1976 Code. The weighting for poverty shall provide additional revenues for students in kindergarten through grade twelve who qualify for Medicaid or who qualify for reduced or free lunches, or both. Revenues generated by this weighting must be used by districts and schools to provide services and research-based strategies for addressing academic or health needs of these students to ensure their future academic success, to provide summer school, reduced class size, after school programs, extended day, instructional materials, or any other research-based educational strategy to improve student academic performance."
SECTION 2. This act takes effect upon approval by the Governor.
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