South Carolina General Assembly
117th Session, 2007-2008

H. 3620
General Appropriations Bill for fiscal year 2007-2008
As Reported by the Senate Finance Committee

PAGE 353
SECTION 71
ESTIMATE OF GENERAL, SCHOOL, TRANSPORTATION,
EDUCATION IMPROVEMENT ACT AND EDUCATION LOTTERY REVENUES
FISCAL YEAR 2007-2008
 
        House of Senate
Appropriation Representatives Finance Committee
Act Estimate Estimate
Estimate FY 2007-2008 FY 2007-2008
FY 2006-07 March 20, 2007 April 13, 2007
-------------------- -------------------- --------------------
REGULAR SOURCES:
  Retail Sales Tax 2,495,764,823 2,695,742,000 2,646,066,667
Income Tax (Total) 2,822,682,576 3,085,339,097 3,209,349,097
Individual 2,599,913,486 2,818,715,206 2,939,344,320
Corporation 222,769,090 266,623,891 270,004,777
  -------------------- -------------------- --------------------
 
Total Income and Sales Tax 5,318,447,399 5,781,081,097 5,855,415,764
  -------------------- -------------------- --------------------
All Other Revenue
Admissions Tax 26,414,809 26,188,809 26,188,809
Aircraft Tax 5,367,808 4,821,373 4,821,373
Alcoholic Liquor Tax 58,014,404 55,079,396 55,079,396
Bank Tax 30,277,979 32,848,283 32,848,283
Beer and Wine Tax 98,965,589 102,568,811 102,568,811
Business License Tax 29,491,785 33,337,578 33,337,578
Coin-Operated Device Tax 1,900,000 1,120,680 1,120,680
Corporation License Tax 80,424,232 79,191,884 79,191,884
Departmental Revenue 44,406,256 46,024,911 46,024,911
Documentary Tax 58,212,826 72,124,198 72,124,198
Earned on Investments 56,600,000 100,500,000 100,500,000
Electric Power Tax 13,253,187 6,485,879 6,485,879
Insurance Tax 159,207,805 156,194,482 156,194,482
Motor Transport Fees 18,000 11,000 11,000
Motor Vehicle Licenses 18,239,812 6,939,215 6,939,215
Petroleum Inspection Tax 2,495,893
Private Car Lines Tax 2,481,691 3,834,761 3,834,761
Public Service Authority 14,170,211 15,864,305 15,864,305
Retailers' License Tax 946,564 866,394 866,394
Savings & Loan Association Tax 2,978,651 3,885,901 3,885,901
Workers' Compensation Insurance Tax 15,644,989 14,078,463 14,078,463
  -------------------- -------------------- --------------------
 
Total All Other Revenue 719,512,491 761,966,323 761,966,323
  -------------------- -------------------- --------------------
 
Total Regular Sources 6,037,959,890 6,543,047,420 6,617,382,087


PAGE 354
SECTION 71
ESTIMATE OF GENERAL, SCHOOL, TRANSPORTATION,
EDUCATION IMPROVEMENT ACT AND EDUCATION LOTTERY REVENUES
FISCAL YEAR 2007-2008
 
        House of Senate
Appropriation Representatives Finance Committee
Act Estimate Estimate
Estimate FY 2007-2008 FY 2007-2008
FY 2006-07 March 20, 2007 April 13, 2007
-------------------- -------------------- --------------------
MISCELLANEOUS SOURCES:
  Circuit & Family Court Fines 9,912,290 9,966,694 9,966,694
Debt Service Reimbursement 1,953,928 1,722,838 1,722,838
Indirect Cost Recoveries 18,052,819 18,052,819 18,052,819
Mental Health Fees 3,600,000 3,400,000 3,400,000
Parole & Probation Supervision Fees 3,392,808 3,392,808 3,392,808
Unclaimed Property Fund Transfer 10,000,000 12,000,000 12,000,000
  -------------------- -------------------- --------------------
 
Total Miscellaneous Sources 46,911,845 48,535,159 48,535,159
  -------------------- -------------------- --------------------
 
Total Regular and Miscellaneous Revenue 6,084,871,735 6,591,582,579 6,665,917,246
 
Other Sources:
Balances Available from the Prior Year:
BEA Certified FY 2005-06 Year-End Surplus 29,868,957
BEA Certified FY 2006-07 Year-End Surplus 62,019,971 78,296,073
Excess Debt Service Appropriation FY 2005-06 3,507,254
Excess Debt Service Appropriation FY 2006-07 451,557 5,895,419
Excess Agency Cash Balances 4,000,000
  -------------------- -------------------- --------------------
 
Total Other Sources 37,376,211 62,471,528 84,191,492
 
Less: Transfer to General Reserve Fund (14,243,425) (19,048,978) (19,048,978)
 
Total General Fund Revenue 6,108,004,521 6,635,005,129 6,731,059,760
 
Department of Transportation Revenue 1,285,539,533 998,899,010 998,899,010
 
Education Improvement Act 650,238,358 689,940,840 689,752,840
 
Education Lottery Revenue 287,300,000 266,400,000 266,400,000
 
Revenue Earmarked for Tax Relief Trust Funds 504,644,634 507,846,331 507,846,331
  -------------------- -------------------- --------------------
 
Total All Sources of Revenues 8,835,727,046 9,098,091,310 9,193,957,941
  -------------------- -------------------- --------------------

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