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Indicates New Matter
H. 4700
STATUS INFORMATION
General Bill
Sponsors: Reps. Herbkersman and Cobb-Hunter
Document Path: l:\council\bills\bbm\9737dg18.docx
Introduced in the House on January 24, 2018
Currently residing in the House Committee on Ways and Means
Summary: Aircraft property tax
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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1/24/2018 House Introduced and read first time (House Journal-page 72)
1/24/2018 House Referred to Committee on Ways and Means
(House Journal-page 72)
View the latest legislative information at the website
VERSIONS OF THIS BILL
TO AMEND SECTION 12-37-2460, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO CREDITING PROPERTY TAXES ON AIRLINES, SO AS TO CREDIT THE PROCEEDS OF TAXES TO THE STATE AVIATION FUND; AND TO AMEND SECTION 55-5-280, AS AMENDED, RELATING TO THE STATE AVIATION FUND, SO AS TO PHASE-IN THE CREDITING OF THE PROCEEDS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-37-2460 of the 1976 Code is amended to read:
"Section 12-37-2460. Subject to Section 55-5-280, the proceeds collected under this article shall be paid into the general fund of the State Aviation Fund."
SECTION 2. Section 55-5-280(B) of the 1976 Code, as last amended by Act 239 of 2016, is further amended to read:
"(B)(1) In any fiscal year in which 2018-2019, if the revenues from the tax levied by the State pursuant to Section 12-37-2410, et seq., exceeds two and one-half one million two hundred fifty thousand dollars, the revenues in excess of two and one-half one million two hundred fifty thousand dollars must be directed to the State Aviation Fund; however, any revenue in excess of five million dollars must be credited in equal amounts to the general fund and the State Aviation Fund.
(2) In any fiscal year after 2018-2019, the revenues from the tax levied by the State pursuant to Section 12-37-2140, et seq., must be credited to the State Aviation Fund."
SECTION 3. This act takes effect upon approval by the Governor.
This web page was last updated on
January 26, 2018 at 2:50 PM