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TO AMEND SECTION 12-36-2120, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO SALES AND USE TAX EXEMPTIONS FOR PURPOSES OF THE SOUTH CAROLINA SALES AND USE TAX ACT, SO AS TO EXEMPT FROM SALES AND USE TAX TANGIBLE PERSONAL PROPERTY SOLD OR LEASED TO PUBLIC SCHOOLS AND PUBLIC SCHOOL DISTRICTS IN THIS STATE.
Whereas, the General Assembly notes that state-imposed sales and use tax revenues are directly or indirectly used solely for the support of K-12 public education in this State; and
Whereas, all sales and use taxes, whether imposed by the State or by localities are a significant additional cost for schools and school districts that are factored into state aid and local support for public education; and
Whereas, paperwork and other administrative costs incurred in school districts paying sales and use taxes the revenues of which in large measure are returned to the district in the form of state and local funding is a wasteful exercise. Now, therefore,
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-36-2120 of the 1976 Code is amended by adding an appropriately numbered item at the end to read:
"( ) tangible personal property sold or leased to public schools and public school districts in this State."
SECTION 2. This act takes effect July 1, 2008.
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