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Indicates Matter Stricken
Indicates New Matter
S. 360
STATUS INFORMATION
General Bill
Sponsors: Senators Rice, Kimbrell and Gambrell
Document Path: l:\council\bills\nbd\11109dg21.docx
Companion/Similar bill(s): 675, 3706
Introduced in the Senate on January 12, 2021
Currently residing in the Senate Committee on Finance
Summary: Airlines, crediting property tax
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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12/9/2020 Senate Prefiled
12/9/2020 Senate Referred to Committee on Finance
1/12/2021 Senate Introduced and read first time (Senate Journal-page 283)
1/12/2021 Senate Referred to Committee on Finance
(Senate Journal-page 283)
View the latest legislative information at the website
VERSIONS OF THIS BILL
TO AMEND SECTION 12-37-2460, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO CREDITING PROPERTY TAXES ON AIRLINES, SO AS TO CREDIT THE PROCEEDS OF TAXES TO THE STATE AVIATION FUND; AND TO AMEND SECTION 55-5-280, RELATING TO THE STATE AVIATION FUND, SO AS TO PHASE-IN THE CREDITING OF THE PROCEEDS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-37-2460 of the 1976 Code is amended to read:
"Section 12-37-2460. Subject to Section 55-5-280, the proceeds collected under this article shall be paid into the general fund of the State Aviation Fund."
SECTION 2. Section 55-5-280(B) of the 1976 Code is amended to read:
"(B)(1) In any Fiscal Year in which 2021-2022, if the revenues from the tax levied by the State pursuant to Section 12-37-2410, et seq., exceeds two and one-half one million two hundred fifty thousand dollars, the revenues in excess of two and one-half one million two hundred fifty thousand dollars must be directed to the State Aviation Fund; however, any revenue in excess of five million dollars must be credited in equal amounts to the general fund and the State Aviation Fund.
(2) In any fiscal year after 2021-2022, the revenues from the tax levied by the State pursuant to Section 12-37-2410, et seq., must be credited to the State Aviation Fund."
SECTION 3. This act takes effect upon approval by the Governor.
This web page was last updated on
March 16, 2021 at 3:19 PM