Senator Devine proposes the following amendment (LC-768.SA0001S):

Amend the bill, as and if amended, by adding an appropriately numbered SECTION to read:

SECTION X. Section 12-37-220(B) of the S.C. Code is amended by adding:

 (54)(a) to the extent not already exempt, the first one hundred thousand dollars of the fair market value of the dwelling place, as defined in Section 12-37-250, of a person whose South Carolina taxable income is less than sixty thousand dollars each year.
  (b) A person only may claim the exemption provided for in this item or the exemption provided for in Section 12-37-250 or 12-37-253, not both.
  (c) The revenue loss resulting from the exemption allowed by this item must be reimbursed and allocated to the political subdivisions of this State, including school districts, in the same manner as the Trust Fund for Tax Relief. In calculating estimated state individual and corporate income tax revenues for a fiscal year, the Board of Economic Advisors shall deduct amounts sufficient to account for the reimbursement required by this item.

Renumber sections to conform.

Amend title to conform.