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H. 3157
STATUS INFORMATION
Joint Resolution
Sponsors: Rep. Sellers
Document Path: l:\council\bills\bbm\10782htc13.docx
Introduced in the House on January 8, 2013
Currently residing in the House Committee on Ways and Means
Summary: Capital Reserve Fund
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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12/18/2012 House Prefiled
12/18/2012 House Referred to Committee on Ways and Means
1/8/2013 House Introduced and read first time (House Journal-page 108)
1/8/2013 House Referred to Committee on Ways and Means
(House Journal-page 108)
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO PROVIDE THAT REVENUES OF THE CAPITAL RESERVE FUND FOR FISCAL YEAR 2012-2013 TO THE EXTENT NOT APPROPRIATED FOR INFRASTRUCTURE NEEDS MUST BE USED TO OFFSET THE GENERAL FUND REVENUES NOT COLLECTED BECAUSE OF A ONE TIME SMALL BUSINESS TAX REDUCTION WHICH MUST BE ENACTED BY THE GENERAL ASSEMBLY IN ITS 2013 REGULAR SESSION.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Notwithstanding any other provision of law, the revenues of the Capital Reserve Fund for Fiscal Year 2012-2013 not appropriated for infrastructure needs must be appropriated to offset general fund revenues not collected attributable to a one time small business state income tax reduction for taxable year 2013 which must be enacted by the General Assembly in its 2013 regular session.
SECTION 2. This joint resolution takes effect upon approval by the Governor.
This web page was last updated on Thursday, February 28, 2013 at 3:23 P.M.