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TO AMEND THE LAST SENTENCE OF SECTION 3 OF ACT 355 OF 2004, RELATING TO THE CLARENDON COUNTY SCHOOL DISTRICTS PROPERTY TAX RELIEF ACT, TO PROVIDE THAT A PERCENTAGE OF THE SPECIAL ONE PERCENT SALES AND USE TAX IN CLARENDON COUNTY IMPOSED PURSUANT TO THE ACT MAY BE APPLIED TO SUPPORT SCHOOL OPERATING EXPENSES; AND TO AMEND SECTION 4(A) OF ACT 355 OF 2004, TO PROVIDE THAT A TAX IMPOSED PURSUANT TO ACT 355 MAY BE IMPOSED FOR NOT MORE THAN THIRTY YEARS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The last sentence of SECTION 3 of Act 355 of 2004 is amended to read:
"However, in any case and as finally determined by the governing body, the proceeds only must be applied to (a) reduce the ad valorem property taxes imposed to pay debt service on general obligation bonds, or (b) otherwise defray the cost of capital improvement projects within each school district, or (c) allow up to twenty-five percent of the budgeted collections to be used to support school operating expenses, provided that up to fifty percent of budgeted collections may be used to support school operating expenses if the governing body finds that it is necessary due to a financial exigency."
SECTION 2. SECTION 4(A) of Act 355 of 2004 is amended to read:
"(A) The tax authorized by this act may be imposed by ordinance of the governing body. The tax may not be imposed for more than twenty thirty years."
SECTION 3. The Clarendon County Council may, by ordinance, extend the term of an existing one percent sales and use tax that was imposed pursuant to Act 355 of 2004 to conform to the provisions contained in SECTION 2 of this act.
SECTION 4. This act takes effect upon approval by the Governor.
This web page was last updated on March 10, 2015 at 1:09 PM