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TO DISTRIBUTE A PORTION OF HOMESTEAD EXEMPTION FUND REVENUE CARRIED FORWARD TO FISCAL YEAR 2008-2009 TO THE SOUTH CAROLINA PUBLIC CHARTER SCHOOL DISTRICT BASED ON A PER PUPIL FORMULA.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. From any balance in the Homestead Exemption Fund established pursuant to Section 11-11-155 of the 1976 Code which is carried forward to fiscal year 2008-2009, there must be distributed to the South Carolina Public Charter School District (SCPCSD) an amount equal to the number of pupils in that school district multiplied by $4,658. The distribution required pursuant to this section to the SCPCSD comes before and reduces the balance available for distribution to counties for property tax credits pursuant to Section 11-11-156(C) of the 1976 Code.
SECTION 2. This joint resolution takes effect upon approval by the Governor.
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