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18                       SECTION 50
19
20     TO AMEND TITLE 2 OF THE 1976 CODE, RELATING TO THE GENERAL ASSEMBLY, BY ADDING CHAPTER 75 SO
21     AS TO ESTABLISH THE JOINT LEGISLATIVE COMMITTEE ON TAX AND REVENUE POLICY AND PROVIDE FOR
22     ITS MEMBERSHIP, POWERS, AND DUTIES; AND TO REPEAL CHAPTER 41 OF TITLE 2 RELATING TO THE TAX
23     STUDY COMMISSION.
24
25     A.  Title 2 of the 1976 Code is amended by adding:
26
27                       "CHAPTER 75
28
29                                         Joint Legislative Committee
30                       on Tax and Revenue Policy
31
32           Section 2-75-5.   There is established the Joint Legislative Committee on Tax and Revenue Policy composed of ten members, three
33     appointed by the President Pro Tempore of the Senate from the membership of the Senate, three appointed by the Speaker of the House of



PART II                                                                            PAGE 573

 1     Representatives from the membership of the House, and four nonlegislative members, two each appointed by the President Pro Tempore
 2     and the Speaker.  Members shall serve at the pleasure of their appointing authority.  Legislative members serve ex officio.
 3
 4           Section 2-75-15.       The joint committee shall:
 5           (1)  make a detailed and careful study of the revenue laws of the State, together with all other laws of the State which have a bearing
 6     upon the study of the revenue laws, and make recommendations to the General Assembly;
 7           (2)   provide for the revision of revenue laws so as to provide a more easily understandable and workable system of revenue laws for
 8     the State;
 9           (3)  recommend changes in the basic tax structure of the State and in the rates of taxation, together with predicted revenue effects of
10     the charges together with proposed alternate sources of revenue, to the end that our revenue system may be stable and equitable, and yet so
11     fair when compared with the tax structures of other states, that business enterprises and persons would be encouraged by the economic
12     impact of the South Carolina revenue laws to move themselves and their business enterprises into the State;
13           (4)  recommend study of alternate sources of revenue found in the tax structures of other states, and particularly in the other
14     southeastern states, and make a report of the economic impact of the South Carolina tax structure upon the business enterprises of various
15     types of industry, as compared with those of other southeastern states;
16           (5)  make recommendations for long range revenue planning, and for future amendments of the revenue laws of South Carolina; and
17           (6)  make a detailed study of the state's use of federal and  other funds' and make findings and recommendations to the General
18     Assembly.
19
20           Section 2-75-25.       The joint committee may:
21           (1)  hold public hearings;
22           (2)  receive testimony of any employees of the State or any other witnesses who may assist the commission in its duties; and
23           (3)  call for assistance in the performance of its duties from any employees or agencies of the State or any of its political subdivisions.
24
25           Section 2-75-35.       Professional and clerical services for the joint committee must be made available from the staffs of the General
26     Assembly,  the Department of Revenue, and other state agencies and institutions.
27
28           Section 2-75-45.       The joint committee shall make reports and recommendations to the General Assembly and the Governor.  These
29     findings and recommendations must be published and made available to the public."
30
31     B.   Chapter 41, Title 2 of the 1976 Code is repealed.
32
33     C.   This section takes effect July 1, 1998.