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TO CREATE A STUDY COMMITTEE TO REVIEW, STUDY, AND MAKE RECOMMENDATIONS CONCERNING THE DESIRABILITY AND FEASIBILITY OF EXTENDING THE PROPERTY TAX RELIEF PROVIDED BY ACT 388 OF 2006 TO OTHER CLASSES OF PROPERTY, TO PROVIDE FOR THE STUDY COMMITTEE'S MEMBERSHIP, AND TO REQUIRE THE STUDY COMMITTEE TO REPORT ITS FINDINGS AND RECOMMENDATIONS TO THE GENERAL ASSEMBLY NO LATER THAN JANUARY 6, 2009, AT WHICH TIME THE STUDY COMMITTEE IS DISSOLVED.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. There is created a study committee to review, study, and make recommendations concerning the desirability and feasibility of extending the property tax relief provided by Act 388 of 2006 to other classes of property.
SECTION 2. (A) The study committee must be composed of nine members:
(1) one member appointed by the President Pro Tempore of the Senate;
(2) two members appointed by the Chairman of the Senate Finance Committee;
(3) one member appointed by the Speaker of the House of Representatives;
(4) two members appointed by the Chairman of the House Ways and Means Committee; and
(5) three members appointed by the Governor. The Governor must appoint one member to represent the South Carolina Manufacturer's Alliance, one member to represent the South Carolina Chamber of Commerce, and one member to represent the South Carolina Association of Realtors.
(B) The study committee must be co-chaired by the senior member of the Senate and the senior member of the House of Representatives serving on the study committee. Notwithstanding the provisions of Section 8-13-770 of the 1976 Code, members of the General Assembly may be appointed to serve on this study committee.
(C) Members of the study committee shall serve until their successors are appointed and qualify, and vacancies must be filled for the remainder of the unexpired term in the manner of original appointment.
(D) Members of the study committee may receive per diem, subsistence, and mileage as provided by law for members of state boards, committees, and commissions.
SECTION 4. The study committee shall make a report of its findings and recommendations to the General Assembly no later than January 6, 2009, at which time the study committee must be dissolved. The study committee may make recommendations it considers appropriate including, but not limited to, providing relief to certain, but not all classes of property, and the method by which any recommended relief is to be funded.
SECTION 5. This joint resolution takes effect upon approval by the Governor.
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