South Carolina General Assembly
123rd Session, 2019-2020

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Bill 753

Indicates Matter Stricken
Indicates New Matter

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

Indicates Matter Stricken

Indicates New Matter

AMENDED

September 22, 2020

S. 753

Introduced by Senators Gambrell and Cash

S. Printed 9/22/20--H.

Read the first time June 24, 2020.

            

A BILL

TO AMEND SECTION 38-7-20, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO INSURANCE PREMIUM TAXES, SO AS TO TRANSFER ONE PERCENT OF THE REVENUES TO THE V-SAFE PROGRAM; AND TO TRANSFER CERTAIN FUNDS TO THE V-SAFE PROGRAM.

Amend Title To Conform

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Section 38-7-20(B)(2) of the 1976 Code, as last amended by Act 6 of 2019, is further amended to read:

"(2)    one percent must be transferred to the aid to fire districts account within the State Treasury and distributed for firefighting equipment. One-half of the annual allocated funds must be distributed equally to each fire department in the State, and the remaining balance must be used to fund the V-SAFE program pursuant to Section 23-9-25;"

SECTION    2.    Upon the effective date of this act, the State Treasurer shall transfer to the V-SAFE Program any funds in the aid to fire districts account that are attributable to insurance premium taxes credited to the account pursuant to Section 38-7-20.

SECTION    3.    This act takes effect upon approval by the Governor.

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This web page was last updated on September 22, 2020 at 5:54 PM