A bill

 

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-21-4200, RELATING TO THE DISBURSEMENT OF BINGO tax REVENUES, SO AS TO INCREASE THE PERCENTAGE THAT IS CREDITED to the PARKS AND RECREATION DEVELOPMENT FUND AND DECREASE THE PERCENTAGE CREDITED TO THE GENERAL FUND; AND BY AMENDING SECTION 51-23-20, RELATING TO ALLOCATION OF PROCEEDS OF THE PARKS AND RECREATION FUND, SO AS TO INCREASE THE AMOUNT THAT MUST BE CREDITED TO EACH COUNTY.

 

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

 

SECTION 1.  Section 12-21-4200(2) and (3) of the S.C. Code is amended to read:

 

    (2) Twenty and eight-tenths Forty-one and six-tenths percent of the annual revenue derived from the provisions of Section 12-21-4190(2), or two and one-half million dollars each fiscal year, whichever is greater, must be deposited by the State Treasurer in a separate fund for the Department of Parks, Recreation and Tourism entitled the Parks and Recreation Development Fund. Interest earned by this fund must be added to it and credited to its various accounts in the same proportion that the annual allocation to each account bears to the total annual distribution to the fund. Unexpended amounts in the various fund accounts must be carried forward to succeeding fiscal years except as provided in Section 51-23-30. Fund proceeds must be distributed as provided in Chapter 23 of Title 51.

    (3) Subject to the distribution in item (2), seventy-two and fifteen one-hundredths fifty-one and thirty-five one-hundredths percent of the annual revenue derived from the provisions of Section 12-21-4190(2) must be deposited with the State Treasurer and credited to the general fund, except that the first one hundred thirty-one thousand of such revenues each year must be transferred to the Commission on Minority Affairs.

 

SECTION 2.  Section 51-23-20(1) of the S.C. Code is amended to read:

 

    (1) Twenty  Thirty thousand dollars must be credited to the account of each county area.

 

SECTION 3.  This act takes effect on July 1, 2024.

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