Current Status Bill Number:4 Type of Legislation:General Bill GB Introducing Body:Senate Introduced Date:19950110 Primary Sponsor:Passailaigue All Sponsors:Passailaigue, McConnell, Ford, Land, Mitchell, Waldrep, Washington, Rose Drafted Document Number:RES9443.ELP Residing Body:Senate Current Committee:Finance Committee 06 SF Subject:Lottery, property tax millage
Body Date Action Description Com Leg Involved
______ ________ _______________________________________ _______ ____________
Senate 19950110 Introduced, read first time, 06 SF
referred to Committee
Senate 19940919 Prefiled, referred to Committee 06 SF
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TO AMEND CHAPTER 37, TITLE 12, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO ASSESSMENT OF PROPERTY TAXES, BY ADDING ARTICLE 4, SECTION 12-37-500 SO AS TO REQUIRE NET PROCEEDS OF STATE LOTTERY GAMES TO BE USED TO REDUCE OR ELIMINATE THE PROPERTY TAX MILLAGE ESTABLISHED FOR THE OPERATING BUDGET OF A SCHOOL DISTRICT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Chapter 37 of Title 12 of the 1976 Code is amended by adding:
Section 12-37-500. From the funds available in the property tax relief account of the State Lottery Fund as provided in Section 7 of Article XVII of the Constitution, the Department of Revenue and Taxation shall administer the Real Estate Lottery Initiative for Education Funding (RELIEF) program to reduce the millage levied for the operating budgets of the school districts of the State. Based on a formula established by the department, the department shall distribute the funds held in the RELIEF Account to each school district on a pro rata basis.
Only the value of real property of each district assessed at four percent of the fair market value of such property, as provided for in subitem (3) of Section 1 of Article X of the South Carolina Constitution, may be used to calculate the pro rata share of the distribution authorized in this section. The funds received by the school district or the governing body with fiscal authority for the school district must be used to reduce the millage established for the operating budget of school districts in an amount equal to the distribution received."
SECTION 2. Subject to approval of the Governor, this act shall take effect upon ratification of the amendment to Section 7, Article XVII of the Constitution of the State.