S 941 Session 112 (1997-1998)
S 0941 Joint Resolution, By Courson, Fair, Giese, Grooms, Leatherman, Peeler,
Russell, Ryberg, Thomas and Wilson
Similar(H 4662, H 4846)
A JOINT RESOLUTION PROPOSING AN AMENDMENT TO ARTICLE X OF THE CONSTITUTION OF
SOUTH CAROLINA, 1895, RELATING TO FINANCE AND TAXATION BY ADDING SECTION 1A
AND AMENDING EXISTING SECTION 6 OF THE ARTICLE SO AS TO REQUIRE PROPERTY
CLASSIFIED AS "ALL OTHER PERSONAL PROPERTY" TO BE THE SUBJECT OF A SEPARATE
MILLAGE LEVY WHICH MAY NOT EXCEED THE 1998 PROPERTY TAX YEAR LEVY ON SUCH
PROPERTY INCLUDING MILLAGE LEVIED FOR BONDED INDEBTEDNESS AND TO MAKE A
CONFORMING AMENDMENT.
01/21/98 Senate Introduced and read first time SJ-4
01/21/98 Senate Referred to Committee on Judiciary SJ-4
01/27/98 Senate Recalled from Committee on Judiciary SJ-336
01/27/98 Senate Referred to Committee on Finance SJ-336
04/21/98 Senate Recalled from Committee on Finance SJ-45
04/21/98 Senate Special order SJ-45
04/28/98 Senate Read second time SJ-11
04/28/98 Senate Ordered to third reading with notice of
amendments SJ-11
04/28/98 Senate Debate interrupted SJ-11
04/29/98 Senate Debate interrupted SJ-64
05/12/98 Senate Debate interrupted SJ-17
05/13/98 Senate Debate interrupted SJ-71
05/14/98 Senate Debate interrupted SJ-33
05/21/98 Senate Debate interrupted SJ-35
05/26/98 Senate Debate interrupted SJ-76
05/28/98 Senate Debate interrupted SJ-63
06/02/98 Senate Debate interrupted SJ-111
06/03/98 Senate Debate interrupted
Indicates Matter Stricken
Indicates New Matter
RECALLED
April 21, 1998
S. 941
Introduced by Senators Courson, Wilson, Leatherman, Ryberg,
Giese, Peeler, Russell, Thomas, Fair and Grooms
S. Printed 4/21/98--S.
Read the first time January 21, 1998.
STATEMENT OF ESTIMATED FISCAL
IMPACT
The bill requires that thirty percent of the BEA's projected
year-to-year general fund revenue growth be remitted to the Personal
Property Tax Relief Fund. Because the constitutional amendment
could be ratified as early as January 1999, it could have an impact on
FY1998-99 revenues. In FY1998-99 this transfer would amount to
an estimated $36.2 million. In FY1999-00 this transfer would amount
to an estimated $67.5 million.
This proposal will set up a fund to reimburse local taxing entities
for "all other personal property" taxes up to a maximum
of the amount collected for tax year 1998. That amount is estimated
at $706 million. "All other personal property" includes
motor vehicles, boats, airplanes, and business personal property, and
is currently assessed at 10.5 percent. This revenue would be
reimbursed to local governments from the growth in state revenues.
Each year thirty percent new general fund revenue will be allocated
to the fund. The constitutional amendment requires local
governments to annually adjust the millage rate applied to these
properties to collect only $706 million as collected in FY1998-99.
The BEA estimates that the general fund will collect $241 million in
new money in FY1998-99. Since one-half of FY1998-99 is in tax
year 1999, $36.2 million in FY1998-99 would be the obligation to the
Personal Property Tax Relief Fund. The BEA estimates that the
general fund will collect $225 million in new money in FY1999-00.
Thirty percent, or $67.5 million, of the expected new collection
would be set aside in the Personal Property Tax Relief Fund.
Approved By:
William C. Gillespie
Board of Economic Advisors
A JOINT RESOLUTION
PROPOSING AN AMENDMENT TO ARTICLE X OF THE
CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO
FINANCE AND TAXATION BY ADDING SECTION 1A AND
AMENDING EXISTING SECTION 6 OF THE ARTICLE SO AS
TO REQUIRE PROPERTY CLASSIFIED AS "ALL OTHER
PERSONAL PROPERTY" TO BE THE SUBJECT OF A
SEPARATE MILLAGE LEVY WHICH MAY NOT EXCEED THE
1998 PROPERTY TAX YEAR LEVY ON SUCH PROPERTY
INCLUDING MILLAGE LEVIED FOR BONDED
INDEBTEDNESS AND TO MAKE A CONFORMING
AMENDMENT.
Be it enacted by the General Assembly of the State of South
Carolina:
SECTION 1. A. It is proposed that Article X of the Constitution
of this State be amended by adding Section 1A to read:
"Section 1A. For property tax years beginning after 1998,
the classification of 'all other personal property' established pursuant
to Section 1(8) of this article must be the subject of a separate millage
rate imposition uniformly applied to property within the class, and
this millage rate may not exceed the millage rate imposed for such
property for any property tax year beginning in 1998, including
amounts levied for that year for bonded indebtedness."
B. It is proposed that the first paragraph of Article X, Section 6 of
the Constitution of this State be amended to read:
"The General Assembly may vest the power of assessing and
collecting taxes in all of the political subdivisions of the State.
Property tax levies shall be uniform in respect to persons and
property within the jurisdiction of the body imposing such
taxes; except as otherwise provided in this article;
and provided, that on properties located in an area receiving
special benefits from the taxes collected, special levies may be
permitted by general law applicable to the same type of political
subdivision throughout the State, and the General Assembly shall
specify the precise condition under which such special levies shall be
assessed."
SECTION 2. The proposed amendment must be submitted to the
qualified electors at the next general election for representatives.
Ballots must be provided at the various voting precincts with the
following words printed or written on the ballot:
"Must Article X of the Constitution of this State be amended
by adding Section 1A and by amending existing Section 6 so as to
provide that property taxes imposed on property classified as 'all
other personal property' for property tax years beginning after 1998
must be separately imposed at a uniform rate on all property in the
class and at a rate that may not exceed the millage rate imposed on
such property for any property tax year beginning in 1998?
Yes []
No []
Those voting in favor of the question shall deposit a ballot with a
check or cross mark in the square after the word 'Yes', and those
voting against the question shall deposit a ballot with a check or cross
mark in the square after the word 'No'."
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