S 4 Session 111 (1995-1996)
S 0004 General Bill, By Passailaigue, Ford, Land, McConnell, T.W. Mitchell,
M.T. Rose, Waldrep and Washington
A Bill to amend Chapter 37, Title 12, Code of Laws of South Carolina, 1976,
relating to assessment of property taxes, by adding Article 4, Section
12-37-500 so as to require net proceeds of state lottery games to be used to
reduce or eliminate the property tax millage established for the operating
budget of a school district.
09/19/94 Senate Prefiled
09/19/94 Senate Referred to Committee on Finance
01/10/95 Senate Introduced and read first time SJ-10
01/10/95 Senate Referred to Committee on Finance SJ-10
A BILL
TO AMEND CHAPTER 37, TITLE 12, CODE OF LAWS OF
SOUTH CAROLINA, 1976, RELATING TO ASSESSMENT OF
PROPERTY TAXES, BY ADDING ARTICLE 4, SECTION 12-37-500 SO AS TO REQUIRE NET PROCEEDS OF STATE
LOTTERY GAMES TO BE USED TO REDUCE OR ELIMINATE
THE PROPERTY TAX MILLAGE ESTABLISHED FOR THE
OPERATING BUDGET OF A SCHOOL DISTRICT.
Be it enacted by the General Assembly of the State of South
Carolina:
SECTION 1. Chapter 37 of Title 12 of the 1976 Code is
amended by adding:
"Article 4
Section 12-37-500. From the funds available in the property tax
relief account of the State Lottery Fund as provided in Section 7 of
Article XVII of the Constitution, the Department of Revenue and
Taxation shall administer the Real Estate Lottery Initiative for
Education Funding (RELIEF) program to reduce the millage levied
for the operating budgets of the school districts of the State. Based
on a formula established by the department, the department shall
distribute the funds held in the RELIEF Account to each school
district on a pro rata basis.
Only the value of real property of each district assessed at four
percent of the fair market value of such property, as provided for in
subitem (3) of Section 1 of Article X of the South Carolina
Constitution, may be used to calculate the pro rata share of the
distribution authorized in this section. The funds received by the
school district or the governing body with fiscal authority for the
school district must be used to reduce the millage established for
the operating budget of school districts in an amount equal to the
distribution received."
SECTION 2. Subject to approval of the Governor, this act shall
take effect upon ratification of the amendment to Section 7, Article
XVII of the Constitution of the State.
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