(Doc Name h:\legwork\house\amend\H-WM\001\REIMB TAXING JURISD.DOCX):
EXPLANATION: requires the Conservation Bank Trust Fund or DNR to ensure that there is a method to reimburse lost ad valorem tax revenue before they acquire or accept real property on behalf of the state.
Amend the bill, as and if amended, Part IB, Section 43, S.C.
CONSERVATION BANK, page 412, after line 19, by adding an
appropriately numbered paragraph to read:
/ (CB: Reimbursements to Taxing Jurisdictions) In the current fiscal year, before the Conservation Bank Trust Fund or the Department of Natural Resources may acquire or accept real property on behalf of the State to be placed and held in a public program or to be put to a recreational or wildlife use by the general public, the department or Conservation Bank Trust Fund shall insure that a means is provided in the transaction agreements for the seller or donor, or department or trust fund, to reimburse the county and property taxing jurisdictions in the county in which the property is located for the ad valorem tax revenue lost in the current fiscal year as a result of removing the property from the property tax rolls./
Renumber sections to conform.
Amend totals and titles to conform.