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Bill 3334

                    Current Status

Bill Number:                      3334
Type of Legislation:              General Bill GB
Introducing Body:                 House
Introduced Date:                  20010124
Primary Sponsor:                  Clyburn
All Sponsors:                     Clyburn, Battle, J. Brown, R. Brown, 
                                  Carnell, Cooper, Gourdine, Govan, Hayes, 
                                  Hosey, Howard, Jennings, Kennedy, Knotts, 
                                  McLeod, Ott, Parks, Rhoad, Rutherford, Scott, 
                                  Sharpe, D.C. Smith, F.N. Smith, J.E. Smith and 
                                  J.R. Smith
Drafted Document Number:          l:\council\bills\dka\4053mm01.doc
Residing Body:                    House
Current Committee:                Ways and Means Committee 30 HWM
Subject:                          Income tax withholdings, percentage of 
                                  prize winnings withheld may be paid to school, 
                                  college; Gambling, Taxation


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
House   20010124  Introduced, read first time,           30 HWM
                  referred to Committee


              Versions of This Bill

TO AMEND SECTION 12-8-530, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO WITHHOLDING OF A PERCENTAGE OF PRIZE WINNINGS FOR STATE INCOME TAX, SO AS TO ALLOW THE RECIPIENT TO ELECT TO HAVE THE WITHHELD AMOUNT PAID OVER TO THE PUBLIC SCHOOL, SCHOOL DISTRICT, OR INSTITUTION OF HIGHER LEARNING OF HIS CHOICE.

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

SECTION    1.    Section 12-8-530(A) of the 1976 Code is amended to read:

    "(A)(1)    A person distributing prizes or winnings to a resident or nonresident of five hundred dollars or more shall withhold seven percent of each distribution made to an individual, partnership, trust, or estate and five percent of each distribution made to a corporation or other entity.

        (2)    The prize recipient may elect to have the person distributing the prize pay over the amount withheld to a public school, public school district, or public institution of higher learning in this State as designated by the prize recipient."

SECTION    2.    This act takes effect upon approval by the Governor and applies to prizes won after that date.

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