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Indicates Matter Stricken
Indicates New Matter
S. 954
STATUS INFORMATION
General Bill
Sponsors: Senator Campbell
Document Path: l:\s-res\pgc\014sc a.dmr.pgc.docx
Introduced in the Senate on January 13, 2016
Currently residing in the Senate Committee on Finance
Summary: State Aviation Fund
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 12/9/2015 Senate Prefiled 12/9/2015 Senate Referred to Committee on Finance 1/13/2016 Senate Introduced and read first time (Senate Journal-page 43) 1/13/2016 Senate Referred to Committee on Finance (Senate Journal-page 43)
View the latest legislative information at the website
VERSIONS OF THIS BILL
TO AMEND SECTION 55-5-280(B) OF THE 1976 CODE, RELATING TO THE STATE AVIATION FUND, TO PROVIDE THAT THE TAXES LEVIED BY THE STATE PURSUANT TO SECTION 12-37-2410 ET SEQ., EXCEEDING TWO AND ONE HALF MILLION DOLLARS MUST BE DIRECTED TO THE STATE AVIATION FUND.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 55-5-280(B) of the 1976 Code is amended to read:
"(B) In any fiscal year in which the tax levied by the State pursuant to Section 12-37-2410, et seq., exceeds five two and one half million dollars, the revenues in excess of five two and one half million dollars must be directed to the State Aviation Fund; however, any revenue in excess of ten five million dollars must be credited in equal amounts to the general fund and the State Aviation Fund."
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on
January 14, 2016 at 9:24 AM