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559Ratification Number: 146Type of Legislation: General Bill GBIntroducing Body: SenateIntroduced Date: 20010405Primary Sponsor: Finance Committee SF 06All Sponsors: Finance CommitteeDrafted Document Number: l:\council\bills\bbm\10157htc01.docDate Bill Passed both Bodies: 20010621Date of Last Amendment: 20010621Governor's Action: VDate of Governor's Action: 20010627Action on Governor's Veto: SSubject: Electric or natural gas bill, late payment for exempt from sales tax; Electricity, Fuel, TaxationHistory Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ Senate 20010628 Veto sustained ------ 20010627 Vetoed by Governor ------ 20010621 Ratified R146 House 20010621 Concurred in Senate amendment, enrolled for ratification Senate 20010621 House amendments amended the second time, returned to House with amendment Senate 20010522 House amendments amended ------ 20010518 Scrivener's error corrected House 20010518 Read third time, returned with amendment House 20010517 Amended, read second time, unanimous consent for third reading on Friday, 20010518 House 20010516 Committee report: Favorable with 30 HWM amendment House 20010417 Introduced, read first time, 30 HWM referred to Committee Senate 20010417 Read third time, sent to House Senate 20010410 Read second time, notice of general amendments Senate 20010405 Introduced, read first time, placed on Calendar without reference Versions of This Bill Revised on April 5, 2001 - Word format Revised on May 16, 2001 - Word format Revised on May 17, 2001 - Word format Revised on May 18, 2001 - Word format Revised on May 22, 2001 - Word format Revised on June 21, 2001 - Word format
NOTE: THIS COPY IS A TEMPORARY VERSION. THIS IS NOT THE FINAL VERSION.
AN ACT TO AMEND SECTION 12-36-2120, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO SALES TAX EXEMPTIONS, SO AS TO EXEMPT, EFFECTIVE JULY 1, 2006, THE GROSS PROCEEDS OF SALES OF FOOD ITEMS ELIGIBLE FOR PURCHASE WITH UNITED STATES DEPARTMENT OF AGRICULTURE FOOD COUPONS, TO PROVIDE FOR PHASING DOWN THE RATE OF THE SALES TAX ON THESE ITEMS IN INCREMENTS OF ONE PERCENT, TO PROVIDE FOR THE APPLICATION OF THIS EXEMPTION TO LOCAL SALES AND USE TAXES, AND TO PROVIDE GENERAL FUND ACCOUNTING CHANGES TO HOLD HARMLESS STATE REVENUES FOR PUBLIC EDUCATION.
Be it enacted by the General Assembly of the State of South Carolina:
Exemption allowed, tax rate reduced
SECTION 1. A. Section 12-36-2120 of the 1976 Code is amended by adding an appropriately numbered item at the end to read:
"( ) effective July 1, 2006, food items eligible for purchase with United States Department of Agriculture food coupons. The exemption allowed by this item does not extend to a local sales and use tax imposed pursuant to a referendum held before July 1, 2001, except where a local sales and use tax specifically exempts these items. The exemption allowed by this item applies to a local sales and use tax imposed pursuant to a referendum held after June 30, 2001. An amount of general fund revenue not derived from the state sales and use tax equal to the amount of state sales and use tax revenue not collected because of the exemption allowed by this item is deemed state sales and use tax revenue and must be used as provided in Section 59-21-1010(A) and (B), including the appropriate amount required to be credited to the Education Act Improvement Fund;"
B. Notwithstanding the rates of tax imposed pursuant to Chapter 36, Title 12 of the 1976 Code, the rate of tax imposed pursuant to that chapter on the gross proceeds of sales, or the sale price of food items eligible for purchase with United States Department of Agriculture food coupons, is four percent for sales from July 1, 2001, through June 30, 2003, three percent for such sales from July 1, 2003, through June 30, 2004, two percent for such sales from July 1, 2004, through June 30, 2005, and one percent for such sales from July 1, 2005, through June 30, 2006. An amount of general fund revenue not derived from the state sales and use tax equal to the state sales and use tax not collected because of the reduced state sales tax rate allowed by this section is deemed state sales and use tax revenue and must be used as provided in Section 59-21-1010(A) and (B) of the 1976 Code, including whatever amount is necessary to be credited to the Education Act Improvement Fund so that the total in that fund is not reduced by the reduced rates allowed by this section. Except where otherwise exempt, the local sales and use taxes authorized by law continue to apply to those sales subject to the reduced state rate of tax provided in this section, but such a tax imposed pursuant to a referendum held after June 30, 2001, does not apply to those sales subject to the reduced state rate of tax provided in this section.
SECTION 2. This act takes effect July 1, 2001.
Ratified the 21st day of June, 2001.
President of the Senate
Speaker of the House of Representatives
Approved the ____________ day of _____________________2001.
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