H 3511 Joint Resolution, By Miller, Bailey, Battle, Bowers, T. Brown, 
Cobb-Hunter, Mack, W. McLeod, Moody-Lawrence, V.T. Mullen, Pinckney, Rodgers and 
Whipper

Similar(S 470)
 A JOINT RESOLUTION TO ALLOW LOCAL GOVERNING BODIES WHICH ENACTED, COLLECTED
 AND HELD IN ESCROW FEES ON TRANSFERS OF REAL ESTATE TO USE THOSE FUNDS FOR THE
 PURPOSES FOR WHICH THE FEES WERE ORIGINALLY INTENDED.

   02/20/97  House  Introduced and read first time HJ-28
   02/20/97  House  Referred to Committee on Ways and Means HJ-28

TO ALLOW LOCAL GOVERNING BODIES WHICH ENACTED, COLLECTED, AND HELD IN ESCROW FEES ON TRANSFERS OF REAL ESTATE TO USE THOSE FUNDS FOR THE PURPOSES FOR WHICH THE FEES WERE ORIGINALLY INTENDED.

Whereas, a number of local governing bodies enacted a fee on the transfer of real estate; and

Whereas, those local governing bodies enacted the fee with the intent of applying the collected funds to specific, identified, local purposes; and

Whereas, those local governing bodies disputed the requirement of Section 6-1-70 of the Code of Laws of South Carolina, 1976, as added by Act 497 of 1994, that the collected funds be remitted to the State Treasurer; and

Whereas, the local governing bodies continued to collect the fee on transfer of real estate, depositing the collected funds in various escrow accounts, pending resolution of their dispute; and

Whereas, the dispute now has been resolved legally, contrary to the interests of the local governing bodies; and

Whereas, those local governing bodies have accumulated substantial sums of monies in their respective escrow accounts; and

Whereas, they desire to allocate and expend those funds for their originally intended specific local purposes. Now, therefore,

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. The local governing bodies which enacted, collected, and held in escrow fees on transfers of real estate pending resolution of their dispute over the requirement that the collected funds be remitted to the State Treasurer, be allowed to use those funds collected as of the effective date of this act for their originally intended specific local purposes, or in the alternative, to refund the fees to those who paid them.

SECTION 2. This joint resolution takes effect upon approval by the Governor.