S 0216 General Bill, By Passailaigue, H.U. Fielding, S.S. Martschink, McConnell, 
M.T. Rose and Washington
 A Bill to amend the Code of Laws of South Carolina, 1976, by adding Section
 12-7-2417, so as to provide a designation on income tax returns to contribute
 to a Housing Trust Fund, and to add Article 4 to Chapter 3 of Title 31, so as
 to provide for the creation of the Housing Trust Fund of South Carolina.

   09/24/90  Senate Prefiled
   09/24/90  Senate Referred to Committee on Finance
   01/08/91  Senate Introduced and read first time SJ-82
   01/08/91  Senate Referred to Committee on Finance SJ-82
   01/23/91  Senate Committee report: Favorable with amendment
                     Finance SJ-14
   01/29/91  Senate Amended SJ-23
   01/29/91  Senate Read second time SJ-23
   01/30/91  Senate Read third time and sent to House SJ-8
   01/31/91  House  Introduced and read first time HJ-467
   01/31/91  House  Referred to Committee on Ways and Means HJ-467

January 29, 1991

S. 216

Introduced by SENATORS Passailaigue, Washington, Fielding, McConnell, Martschink and Rose

S. Printed 1/29/91--S.

Read the first time January 8, 1991.

A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-7-2417, SO AS TO PROVIDE A DESIGNATION ON INCOME TAX RETURNS TO CONTRIBUTE TO A HOUSING TRUST FUND, AND TO ADD ARTICLE 4 TO CHAPTER 3 OF TITLE 31, SO AS TO PROVIDE FOR THE CREATION OF THE HOUSING TRUST FUND OF SOUTH CAROLINA.

Amend Title To Conform

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

SECTION 1. Chapter 7, Title 12 of the 1976 Code is amended by adding:

"Section 12-7-2417. (A) Each taxpayer required to file a state income tax return who desires to contribute to the Housing Trust Fund of South Carolina as created by Section 31-3-200 may designate the contribution on the appropriate state income tax form. The contribution may not decrease the income tax liability of any taxpayer and may be made by reducing the income tax refund of the taxpayer by the amount designated or by accepting additional payment from the taxpayer by the amount designated, whichever is appropriate.

(B) All South Carolina income tax return forms must contain a designation for a contribution to the Housing Trust Fund of South Carolina.

Contributions of other amounts may be made directly to the Housing Trust Fund.

The instructions accompanying income tax forms must contain a description of the purpose for which the Housing Trust Fund was established and the use of monies from the income tax contribution.

(C) Taxpayers who are entitled to refunds shall have the refunds reduced by the amount designated by the taxpayer. The commission shall determine annually the total amount so designated, plus the amount received in excess payments so designated and shall report the total amount to the State Treasurer. The commission shall transfer the total amount to the Housing Trust Fund at the earliest possible time.

(D) The incremental cost of administration of the contribution must be paid by the Trust Fund from amounts received pursuant to this section."

SECTION 2. Chapter 1, Title 43 of the 1976 Code is amended by adding:

"Section 43-1-125. There is created a special fund known as the Housing Trust Fund of South Carolina. All monies received from the voluntary contribution system established pursuant to Section 12-7-2417 must be deposited in the fund to be used to establish and administer housing facilities for persons who are temporarily without a form of shelter from the elements. A housing shelter must be a facility operated by a qualified organization that provides food, sleeping quarters, and counseling support services for homeless adults and children. The Housing Trust Fund shall supplement and augment, not take the place of, services provided by state agencies. The South Carolina Board of Social Services shall carry out all activities necessary to administer the fund.

Until the assets of the Housing Trust Fund exceed five million dollars, not more than seventy-five percent of the amount deposited in the fund each year from contributions plus all earnings from the investment of monies of the fund credited during the previous fiscal year, after allowances for operating expenses, is available for disbursements on authorization of the board.

When the assets in the fund exceed five million dollars, all credited earnings plus all future annual deposits to the fund from contributions are available for disbursement on the authorization of the board. A majority of the board members must authorize the disbursement of funds."

SECTION 3. This act takes effect upon approval by the Governor.