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A382, R393, H4816
STATUS INFORMATION
General Bill
Sponsors: Reps. Bingham, Ballentine, Frye, Haley, Huggins, McLeod, Ott, E.H. Pitts, Spires and Toole
Document Path: l:\council\bills\bbm\10205htc08.doc
Introduced in the House on March 5, 2008
Introduced in the Senate on March 11, 2008
Passed by the General Assembly on June 4, 2008
Governor's Action: June 11, 2008, Signed
Summary: Lexington County School District Property Tax Relief Act
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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3/5/2008 House Introduced, read first time, placed on calendar without
reference HJ-97
3/6/2008 House Read second time HJ-26
3/6/2008 House Unanimous consent for third reading on next legislative
day HJ-26
3/7/2008 House Read third time and sent to Senate HJ-2
3/11/2008 Senate Introduced, read first time, placed on local &
uncontested calendar SJ-9
5/28/2008 Senate Read second time SJ-48
6/4/2008 Senate Read third time and enrolled SJ-157
6/5/2008 Ratified R 393
6/11/2008 Signed By Governor
6/19/2008 Copies available
6/19/2008 Effective date See Act for Effective Date
8/6/2008 Act No. 382
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
(A382, R393, H4816)
AN ACT TO AMEND ACT 378 OF 2004, AS AMENDED, RELATING TO THE LEXINGTON COUNTY SCHOOL DISTRICT PROPERTY TAX RELIEF ACT, SO AS TO REVISE THE METHOD BY WHICH THE PROPERTY TAX CREDIT ALLOWED PURSUANT TO THIS ACT APPLIES WITH RESPECT TO THE NONSCHOOL-RELATED PROPERTY TAX LIABILITY OF AN OWNER-OCCUPIED RESIDENCE.
Be it enacted by the General Assembly of the State of South Carolina:
Lexington County School District Property Tax Relief Act
SECTION 1. Section 7(C)(1) of Act 378 of 2004, as last amended by Act 427 of 2006, is further amended to read:
"(1) The revenues allotted to a district must be used to provide a nonrefundable credit against the school property tax liability on property taxable in the district in an amount determined by multiplying the appraised value of the taxable property, before the exemption provided in Section 12-37-250, by a fraction in which the numerator is the total estimated revenue allotted to the district during the applicable fiscal year of the district and the denominator is the total of the appraised value of taxable property, including the value exempted in Section 12-37-250, in the district as of January first of the applicable property tax year. For motor vehicles subject to the payment of property taxes pursuant to Article 21, Chapter 37 of Title 12 of the 1976 Code, the credit provided under this subsection applies against the tax liability for motor vehicle tax years beginning after December of the year in which the credit is calculated. The credit applies first against the liability arising from millage imposed for debt service for schools, then against any liability arising from other methods of financing school capital projects, then against school building lease-purchase obligations, and, except as provided pursuant to subsection (E) of this section, finally against any liability arising from school operations."
Application of property tax credit
SECTION 2. Section 7 of Act 378 of 2004, as last amended by Act 427 of 2006, is further amended by adding a new subsection at the end to read:
"(E) Before the provisions of subsection (D) of this section apply, an amount equal to the credit that would apply against the property tax liability for school operations imposed on an owner-occupied residence but for the exemption allowed pursuant to Section 12-37-220(B)(47) of the 1976 Code, is allowed as a credit to be applied proportionately against all nonschool-related property tax otherwise due on the residence."
Time effective
SECTION 3. This act takes effect upon approval by the Governor and applies for property tax years beginning after 2007.
Ratified the 5th day of June, 2008.
Approved the 11th day of June, 2008.
This web page was last updated on Wednesday, December 2, 2009 at 3:47 P.M.