H 3480 Session 110 (1993-1994)
H 3480 General Bill, By Sharpe, Alexander, Allison, Bailey, H. Brown, Carnell,
Cato, C.D. Chamblee, Davenport, L.L. Elliott, R.C. Fulmer, Gamble,
S.E. Gonzales, J.L. Harris, Harrison, M.F. Jaskwhich, Keegan, Kennedy,
W.D. Keyserling, Koon, Lanford, Law, Littlejohn, J.G. McAbee, Meacham, Quinn,
Richardson, Riser, Robinson, J.S. Shissias, Simrill, R. Smith, C.H. Stone,
Stuart, Townsend, Vaughn, C.Y. Waites, Walker, C.C. Wells, Wilder, J.B. Wilder,
Wilkins, Witherspoon, S.S. Wofford, D.A. Wright, Young-Brickell and R.M. Young
Similar(S 450)
A Bill to amend Section 59-101-360, Code of Laws of South Carolina, 1976,
relating to the use of certain sales tax revenues on catalog sales for the
support of higher education, so as to provide that forty percent of these
revenues must be used for K-12 public school construction needs, forty percent
for higher education formula funding, and twenty percent for higher education
tuition grants, and to delete requirements for any fund revenues to be
credited to the Education Improvement Act of 1984 Fund.
02/11/93 House Introduced and read first time HJ-8
02/11/93 House Referred to Committee on Ways and Means HJ-8
A BILL
TO AMEND SECTION 59-101-360, CODE OF LAWS OF SOUTH
CAROLINA, 1976, RELATING TO THE USE OF CERTAIN SALES
TAX REVENUES ON CATALOG SALES FOR THE SUPPORT OF
HIGHER EDUCATION, SO AS TO PROVIDE THAT FORTY
PERCENT OF THESE REVENUES MUST BE USED FOR K-12
PUBLIC SCHOOL CONSTRUCTION NEEDS, FORTY PERCENT
FOR HIGHER EDUCATION FORMULA FUNDING, AND TWENTY
PERCENT FOR HIGHER EDUCATION TUITION GRANTS, AND
TO DELETE REQUIREMENTS FOR ANY FUND REVENUES TO
BE CREDITED TO THE EDUCATION IMPROVEMENT ACT OF
1984 FUND.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 59-101-360 of the 1976 Code, as added by
Section 35A, Part II, Act 501 of 1992, is amended to read:
"Section 59-101-360. Notwithstanding the provisions of Section
59-21-1010(A), that portion of sales tax revenue derived pursuant to
Section 12-36-2620(1) from the tax on catalog sales which exceeds the
total of revenue from such sales in fiscal year 1991-92 must be credited
by the State Treasurer to the Higher Education Sales Tax Fund, which
is separate and distinct from the general fund of the State. Revenues in
this fund as appropriated in the 1992-93 General Appropriations Act
and as thereafter annually appropriated after June 30, 1993,
must be distributed as follows:
(1) forty percent for K-12 public school construction needs in
accordance with Chapter 20 of this title;
(2) forty percent pursuant to formula funding for higher
education and which may not be used to supplant
general fund appropriations for higher education, except that twenty
percent of fund revenues must be credited to the Education Improvement
Act of 1984 Fund,; and except that ten
(3) twenty percent of fund revenues, not exceeding
fifteen million dollars in one fiscal year, must be appropriated
for the Higher Education Tuition Grants Program pursuant to Chapter
113 of Title 59 this title."
SECTION 2. This act takes effect July 1, 1993.
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