South Carolina General Assembly
117th Session, 2007-2008

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Bill 3812

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Indicates New Matter

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

COMMITTEE REPORT

May 30, 2007

H. 3812

Introduced by Reps. G.M. Smith, Weeks and Ceips

S. Printed 5/30/07--S.

Read the first time May 2, 2007.

            

THE COMMITTEE ON FINANCE

To whom was referred a Bill (H. 3812) to amend Section 6-1-320, as amended, Code of Laws of South Carolina, 1976, relating to the limit on property tax millage increases, so as to provide, etc., respectfully

REPORT:

That they have duly and carefully considered the same and recommend that the same do pass:

HUGH K. LEATHERMAN, SR. for Committee.

            

STATEMENT OF ESTIMATED FISCAL IMPACT

REVENUE IMPACT 1/

This bill is not expected to impact state revenues. Local revenues could be increased by a two-thirds vote to purchase residential development rights allowed by this bill.

Explanation

Under current law the millage rate limitation imposed by this Section may be suspended and the millage rate may be increased upon a two-thirds vote of the membership of the local governing body for certain purposes. This bill adds another purpose for which the millage rate limitation may be suspended. Specifically, this bill would allow the millage rate to be suspended for the purchase by the local governing body of residential development rights in undeveloped real property near military installations which property has been identified as suitable for residential development but which residential development would constitute undesirable residential encroachment upon the installation as determined by the local governing body. A two-thirds vote of the membership of the local governing body would still be required to exceed the millage limitation. This bill adds another purpose for which the millage rate limitation may be suspended and is not expected to impact state revenues. Local revenues could be increased by a two-thirds vote to purchase residential development rights allowed by this bill.

Approved By:

William C. Gillespie

Board of Economic Advisors

1/ This statement meets the requirement of Section 2-7-71 for a state revenue impact by the BEA, or Section 2-7-76 for a local revenue impact or Section 6-1-85(B) for an estimate of the shift in local property tax incidence by the Office of Economic Research.

A BILL

TO AMEND SECTION 6-1-320, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE LIMIT ON PROPERTY TAX MILLAGE INCREASES, SO AS TO PROVIDE FOR A MILLAGE RATE LIMITATION TO PURCHASE RESIDENTIAL DEVELOPMENT RIGHTS IN UNDEVELOPED PROPERTY NEAR MILITARY INSTALLATIONS TO PREVENT ADDITIONAL RESIDENTIAL DEVELOPMENT NEAR THOSE MILITARY INSTALLATIONS.

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

SECTION    1.    Section 6-1-320(B) of the 1976 Code, as amended by Act 388 of 2006, is further amended by adding:

"(6)    purchase by the local governing body of residential development rights in undeveloped real property near military installations which property has been identified as suitable for residential development but which residential development would constitute undesirable residential encroachment upon the installation as determined by the local governing body."

SECTION    2.    This act takes effect upon approval by the Governor.

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