South Carolina General Assembly
117th Session, 2007-2008

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A382, R393, H4816

STATUS INFORMATION

General Bill
Sponsors: Reps. Bingham, Ballentine, Frye, Haley, Huggins, McLeod, Ott, E.H. Pitts, Spires and Toole
Document Path: l:\council\bills\bbm\10205htc08.doc

Introduced in the House on March 5, 2008
Introduced in the Senate on March 11, 2008
Passed by the General Assembly on June 4, 2008
Governor's Action: June 11, 2008, Signed

Summary: Lexington County School District Property Tax Relief Act

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
    3/5/2008  House   Introduced, read first time, placed on calendar without 
                        reference HJ-97
    3/6/2008  House   Read second time HJ-26
    3/6/2008  House   Unanimous consent for third reading on next legislative 
                        day HJ-26
    3/7/2008  House   Read third time and sent to Senate HJ-2
   3/11/2008  Senate  Introduced, read first time, placed on local & 
                        uncontested calendar SJ-9
   5/28/2008  Senate  Read second time SJ-48
    6/4/2008  Senate  Read third time and enrolled SJ-157
    6/5/2008          Ratified R 393
   6/11/2008          Signed By Governor
   6/19/2008          Copies available
   6/19/2008          Effective date See Act for Effective Date
    8/6/2008          Act No. 382

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

3/5/2008
3/5/2008
3/11/2008


(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A382, R393, H4816)

AN ACT TO AMEND ACT 378 OF 2004, AS AMENDED, RELATING TO THE LEXINGTON COUNTY SCHOOL DISTRICT PROPERTY TAX RELIEF ACT, SO AS TO REVISE THE METHOD BY WHICH THE PROPERTY TAX CREDIT ALLOWED PURSUANT TO THIS ACT APPLIES WITH RESPECT TO THE NONSCHOOL-RELATED PROPERTY TAX LIABILITY OF AN OWNER-OCCUPIED RESIDENCE.

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

Lexington County School District Property Tax Relief Act

SECTION    1.    Section 7(C)(1) of Act 378 of 2004, as last amended by Act 427 of 2006, is further 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, except as provided pursuant to subsection (E) of this section, finally against any liability arising from school operations."

Application of property tax credit

SECTION    2.    Section 7 of Act 378 of 2004, as last amended by Act 427 of 2006, is further amended by adding a new subsection at the end to read:

"(E)    Before the provisions of subsection (D) of this section apply, an amount equal to the credit that would apply against the property tax liability for school operations imposed on an owner-occupied residence but for the exemption allowed pursuant to Section 12-37-220(B)(47) of the 1976 Code, is allowed as a credit to be applied proportionately against all nonschool-related property tax otherwise due on the residence."

Time effective

SECTION    3.    This act takes effect upon approval by the Governor and applies for property tax years beginning after 2007.

Ratified the 5th day of June, 2008.

Approved the 11th day of June, 2008.

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This web page was last updated on Wednesday, December 2, 2009 at 3:47 P.M.