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A427, R243, S1136

STATUS INFORMATION

General Bill
Sponsors: Senators Knotts, Cromer, Setzler and Courson
Document Path: l:\council\bills\agm\18093mm06.doc

Introduced in the Senate on February 8, 2006
Introduced in the House on February 14, 2006
Passed by the General Assembly on March 1, 2006
Became law without Governor's signature, March 21, 2006

Summary: Lexington County School District Property Tax Relief

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
    2/8/2006  Senate  Introduced, read first time, placed on local & 
                        uncontested calendar SJ-9
    2/9/2006          Scrivener's error corrected
    2/9/2006  Senate  Read second time SJ-12
    2/9/2006  Senate  Unanimous consent for third reading on next legislative 
                        day SJ-12
   2/10/2006  Senate  Read third time and sent to House SJ-1
   2/14/2006  House   Introduced and read first time HJ-4
   2/14/2006  House   Referred to Committee on Ways and Means HJ-4
   2/23/2006  House   Recalled from Committee on Ways and Means HJ-28
   2/28/2006  House   Read second time HJ-13
    3/1/2006  House   Read third time and enrolled HJ-9
   3/14/2006          Ratified R 243
   3/21/2006          Became law without Governor's signature
   3/23/2006          Copies available
   3/23/2006          Effective date See Act for Effective Date
  10/17/2006          Act No. 427

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

2/8/2006
2/8/2006-A
2/9/2006
2/23/2006

(A427, R243, S1136)

AN ACT TO AMEND ACT 378 OF 2004, THE LEXINGTON COUNTY SCHOOL DISTRICT PROPERTY RELIEF ACT, SO AS TO PROVIDE THAT THE REVENUES ALLOTTED TO A SCHOOL DISTRICT BE USED TO PROVIDE A NONREFUNDABLE CREDIT AGAINST THE SCHOOL PROPERTY TAX LIABILITY ON PROPERTY TAXABLE IN THE DISTRICT AND THAT THE LIABILITY BE DETERMINED BY USING THE APPRAISED VALUE OF THE TAXABLE PROPERTY BEFORE THE HOMESTEAD EXEMPTION IN SECTION 12-37-250.

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

Nonrefundable credit

SECTION    1.    Section 7(C)(1) of Act 378 of 2004 is amended to read:

"(1)    The revenues allotted to a district must be used to provide a nonrefundable credit against the school property tax liability on property taxable in the district in an amount determined by multiplying the appraised value of the taxable property, before the exemption provided in Section 12-37-250, by a fraction in which the numerator is the total estimated revenue allotted to the district during the applicable fiscal year of the district and the denominator is the total of the appraised value of taxable property, including the value exempted in Section 12-37-250, in the district as of January first of the applicable property tax year. For motor vehicles subject to the payment of property taxes pursuant to Article 21, Chapter 37 of Title 12 of the 1976 Code, the credit provided under this subsection applies against the tax liability for motor vehicle tax years beginning after December of the year in which the credit is calculated. The credit applies first against the liability arising from millage imposed for debt service for schools, then against any liability arising from other methods of financing school capital projects, then against school building lease-purchase obligations, and finally against any liability arising from school operations."

Time effective

SECTION    2.    This act takes effect upon approval by the Governor and applies to real property tax years beginning January 1, 2006, and later.

Ratified the 14th day of March, 2006.

Became law without the signature of the Governor -- 3/21/06.

This web page was last updated on Friday, December 4, 2009 at 3:35 P.M.