A bill

 

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 38-7-20, RELATING TO THE ALLOCATION OF INSURANCE PREMIUM TAXES, SO AS TO DIRECT TWENTY-FIVE PERCENT TO THE SOUTH CAROLINA OFFICE OF RESilIENCE FOR SPECIFIC PURPOSES.

 

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

 

SECTION 1.  Section 38-7-20(B) of the S.C. Code is amended to read:

 

    (B) Effective July 1, 2013, through June 30, 2030, of the revenue of the premium taxes collected pursuant to this section:

       (1) one percent must be transferred to the South Carolina Forestry Commission and used by that agency for firefighting and firefighting equipment replacement;

       (2) one percent must be transferred to the V-SAFE program pursuant to Section 23-9-25;

       (3) one quarter of one percent must be transferred to the aid to emergency medical services regional councils within the Department of Health and Environmental Control and used for grants to fund emergency medical technician and paramedic training;  and

       (4) twenty-five percent must be transferred in accordance with Section 48-62-50 to the State Treasury for the Disaster Relief and Resilience Reserve Fund, which shall be separate and distinct from the general fund and all other reserve funds. Funds appropriated to the fund only may be used to develop, implement, and maintain the Statewide Resilience Plan and for disaster relief assistance, hazard mitigation, and infrastructure improvements as set forth in Article 1, Chapter 62, Title 48. Interest accrued by the fund must remain in the fund and unexpended funds must be retained and carried forward to be used for the same purposes and for the purposes outlined in Sections 48-62-30 and 48-62-70; and

       (5) the remaining insurance premium taxes collected pursuant to this section must be deposited to the credit of the general fund of the State.

 

SECTION 2.  This act takes effect upon approval by the Governor.

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