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S. 911
STATUS INFORMATION
General Bill
Sponsors: Senator Peeler
Document Path: l:\council\bills\bh\26043dg14.docx
Introduced in the Senate on January 14, 2014
Currently residing in the Senate Committee on Finance
Summary: Education Capital Improvements Sales and Use Tax
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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1/14/2014 Senate Introduced and read first time (Senate Journal-page 72)
1/14/2014 Senate Referred to Committee on Finance (Senate Journal-page 72)
3/26/2014 Senate Committee report: Majority favorable with amend.,
minority unfavorable Finance (Senate Journal-page 30)
4/1/2014 Senate Recommitted to Committee on Finance
(Senate Journal-page 44)
View the latest legislative information at the website
VERSIONS OF THIS BILL
Indicates Matter Stricken
Indicates New Matter
COMMITTEE REPORT
March 26, 2014
S. 911
S. Printed 3/26/14--S.
Read the first time January 14, 2014.
To whom was referred a Bill (S. 911) to amend the Code of Laws of South Carolina, 1976, by repealing Section 4-10-470 relating to the Education Capital Improvements Sales and Use Tax, etc., respectfully
That they have duly and carefully considered the same and recommend that the same do pass with amendment:
Amend the bill, as and if amended, by adding an appropriately numbered SECTION to read:
/ SECTION ___. Section 4-10-460 of the 1976 Code, as added by Act 316 of 2008, is amended to read:
"Section 4-10-460. The tax authorized in this article may be renewed and imposed within a county in the same manner as proceedings for the initial imposition of the tax. A referendum on the question of reimposition of a tax must not be held more earlier than within the calendar year which is two years before the date upon calendar year in which the tax then in effect is scheduled to terminate, but any reimposition is effective immediately upon the termination of the tax previously imposed." /
Renumber sections to conform.
Amend title to conform.
Majority favorable. Minority unfavorable.
HUGH K. LEATHERMAN, SR. KEVIN L. BRYANT
For Majority. For Minority.
REVENUE IMPACT 1/
This bill would affect the eligibility requirements concerning the Education Capital Improvements Sales and Use Tax. Removing section 4-10-470 would allow the remaining 44 of the 46 counties in the state to impose this tax.
Explanation
Pursuant to section 4-10-470 of the Code of Laws of South Carolina, in order to impose the Education Capital Improvements Sales and Use Tax, a county is required to have collected at least $7 million in state accommodations taxes in a full fiscal year. Currently, Charleston and Horry County are the only eligible counties; both counties impose the Education Capital Improvements Sales and Use Tax. Removing this section would make all remaining counties eligible to impose this tax.
Approved By:
Frank A. Rainwater
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.
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY REPEALING SECTION 4-10-470 RELATING TO THE EDUCATION CAPITAL IMPROVEMENTS SALES AND USE TAX, SO AS TO DELETE THE REQUIREMENT THAT A COUNTY MUST COLLECT AT LEAST SEVEN MILLION DOLLARS IN A YEAR IN STATE ACCOMMODATIONS TAXES BEFORE IMPOSING THE TAX.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 4-10-470 of the 1976 Code, as added by Act 316 of 2008, is repealed.
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on April 2, 2014 at 8:52 AM