S 0144 General Bill, By Wilson and Russell
Summary: Sales tax exemption for food purchased with Agriculture Department food coupons; Taxation
    A BILL TO AMEND SECTION 12-36-2120, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, SO AS TO EXEMPT FROM THE SALES TAX FOOD ITEMS WHICH MAY BE PURCHASED WITH UNITED STATES DEPARTMENT OF AGRICULTURE FOOD COUPONS, TO PROVIDE THAT A CUMULATIVE THIRTY PERCENT OF ESTIMATED RECURRING GENERAL FUND REVENUE GROWTH FOR EACH YEAR, NOT TO EXCEED THE REQUIRED AMOUNT, IS DEEMED SALES TAX REVENUE FOR PURPOSES OF OFFSETTING THE REVENUE LOSS OF THE EXEMPTION, TO PHASE IN THE EXEMPTION OVER A NUMBER OF FISCAL YEARS UNTIL IT IS A ONE HUNDRED PERCENT PERMANENT EXEMPTION AND PROVIDE THE METHOD OF CALCULATION OF THE EXEMPTION PERCENTAGE AMOUNT FOR THE FISCAL YEARS BEFORE THE EXEMPTION BECOMES A COMPLETE EXEMPTION.
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12/16/98	Senate	Prefiled
12/16/98	Senate	Referred to Committee on Finance
01/12/99	Senate	Introduced and read first time SJ-58
01/12/99	Senate	Referred to Committee on Finance SJ-58