S 0137 Joint Resolution, By Knotts
 A JOINT RESOLUTION PROPOSING AN AMENDMENT TO ARTICLE X OF THE CONSTITUTION OF
 SOUTH CAROLINA, 1895, RELATING TO FINANCE AND TAXATION, BY ADDING A NEW
 SECTION SO AS TO PROVIDE THAT BEGINNING ON JANUARY 1, 2006, NO AD VALOREM
 TAXATION ON ANY REAL PROPERTY IS PERMITTED IN THIS STATE BY ANY LOCAL
 GOVERNMENT TAXING ENTITY, TO PROVIDE THAT THE GENERAL ASSEMBLY BY LAW, BEFORE
 JANUARY 1, 2006, MUST PROVIDE FOR THE FUNDING MECHANISMS THE STATE OR THESE
 LOCAL GOVERNMENT TAXING ENTITIES MAY USE TO REPLACE THE REVENUE LOST AS A
 RESULT OF THIS PROHIBITION, AND TO PROVIDE EXCEPTIONS TO THE ABOVE FOR THE
 PURPOSE OF AVOIDING DEFAULT ON GENERAL OBLIGATION DEBT.

   01/08/03  Senate Prefiled
   01/08/03  Senate Referred to Committee on Finance
   01/14/03  Senate Introduced and read first time SJ-80
   01/14/03  Senate Referred to Committee on Finance SJ-80

PROPOSING AN AMENDMENT TO ARTICLE X OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO FINANCE AND TAXATION, BY ADDING A NEW SECTION SO AS TO PROVIDE THAT BEGINNING ON JANUARY 1, 2006, NO AD VALOREM TAXATION ON ANY REAL PROPERTY IS PERMITTED IN THIS STATE BY ANY LOCAL GOVERNMENT TAXING ENTITY, TO PROVIDE THAT THE GENERAL ASSEMBLY BY LAW, BEFORE JANUARY 1, 2006, MUST PROVIDE FOR THE FUNDING MECHANISMS THE STATE OR THESE LOCAL GOVERNMENT TAXING ENTITIES MAY USE TO REPLACE THE REVENUE LOST AS A RESULT OF THIS PROHIBITION, AND TO PROVIDE EXCEPTIONS TO THE ABOVE FOR THE PURPOSE OF AVOIDING DEFAULT ON GENERAL OBLIGATION DEBT.

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

SECTION    1. It is proposed that Article X of the Constitution of this State be amended by adding a new section to be appropriately numbered to read:

"Section _____.    Notwithstanding the provisions of this article, beginning on January 1, 2006, no ad valorem taxation on any real property is permitted in this State by any local government taxing entity, and the General Assembly by law before January 1, 2006, must provide for the funding mechanisms the State or these local government taxing entities may use, not including an ad valorem tax on real property, to replace the revenue lost as a result of this prohibition. The provisions of this section do not apply in any circumstances where it is necessary to impose an ad valorem tax on real property to avoid defaulting on general obligation debt of the State or a local government taxing entity."

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 so as to provide that beginning on January 1, 2006, no ad valorem taxation on any real property is permitted in this State by any local government taxing entity, to provide that the General Assembly by law, before January 1, 2006, must provide for the funding mechanisms the State or these local government taxing entities may use to replace the revenue lost as a result of this prohibition, and to provide exceptions to the above for the purpose of avoiding default on general obligation debt?

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'."