S 0207 General Bill, By L.E. Richter
 A Bill to amend Section 12-27-1260, Code of Laws of South Carolina, 1976,
 relating to the crediting or additional taxes to the Strategic Highway Plan
 for Improving Mobility and Safety, so as to provide for the establishment and
 funding of the State Strategic Highway Fund and the County Strategic Highway
 Fund.

   01/13/93  Senate Introduced and read first time SJ-12
   01/13/93  Senate Referred to Committee on Transportation SJ-12

A BILL

TO AMEND SECTION 12-27-1260, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE CREDITING OF ADDITIONAL TAXES TO THE STRATEGIC HIGHWAY PLAN FOR IMPROVING MOBILITY AND SAFETY, SO AS TO PROVIDE FOR THE ESTABLISHMENT AND FUNDING OF THE STATE STRATEGIC HIGHWAY FUND AND THE COUNTY STRATEGIC HIGHWAY FUND.

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

SECTION 1. Section 12-27-1260 of the 1976 Code is amended to read:

"Section 12-27-1260. The revenue derived from the tax levied by Sections 12-27-1210, 12-27-1220, 12-27-1230, and 12-27-1240 in this chapter must be remitted to the State Treasurer to be credited to the fund funds and in the manner herein as may be established for the Strategic Highway Plan for Improving Mobility and Safety. There must be established a State Strategic Highway Fund and a County Strategic Highway Fund. The County Strategic Highway Fund shall include a separate and distinct account for each county. The State Treasurer, upon collection of taxes levied pursuant to this article, shall remit to the account of each county, for use in that county, an amount equal to forty percent of the revenue derived from the tax collected in that county annually. The remaining monies from taxes collected pursuant to this article shall be deposited into the State Strategic Highway Fund. This fund These funds must be separate and distinct from the state general fund and highway fund. All unappropriated money in this fund must remain part of the separate fund or account to which it is credited until it is expended as provided for in this article. All earnings on investments from this fund these funds must accrue to and be deposited in the fund or account to which the principal monies are deposited this separate fund. Money deposited into the State Strategic Highway Fund from this fund may be spent only for the purpose of funding the Strategic Highway Plan for Improving Mobility and Safety Program administered by the department and funding the Economic Development Account as provided for in Section 12-27-1270. No funds monies may be expended from this account for any purpose other than for payment of engineering and planning, right-of-way acquisition, and construction of projects on the list submitted as provided in Section 12-27-1280 or those designated for economic development by the Coordinating Council for Economic Development as provided in Section 12-27-1270.

Monies deposited into a County Strategic Highway Fund shall only be used for project priorities in the county to which the funds are credited. The commission must annually establish a county priority list which must be revised and updated by October first of each year. Notwithstanding any other provision of law, the monies collected and credited to the account of a county may not be used for projects to be funded pursuant to Section 12-27-1280."

SECTION 2. This act takes effect upon approval by the Governor, however, if this act takes effect prior to July 1, 1993, Section 124.27, Part I, of Act No. 501 shall cease to be effective.