S 0220 Joint Resolution, By Passailaigue, Elliott, Reese, M.T. Rose and Wilson
 A JOINT RESOLUTION PROPOSING AN AMENDMENT TO ARTICLE X OF THE CONSTITUTION OF
 SOUTH CAROLINA, 1895, RELATING TO FINANCE AND TAXATION, BY ADDING AN
 APPROPRIATELY NUMBERED SECTION SO AS TO PROVIDE THAT LAWS ENACTED TO MAINTAIN
 CONFORMITY OF THE STATE INCOME TAX WITH THE PROVISIONS OF THE FEDERAL INCOME
 TAX MAY NOT RESULT IN INCREASES OR DECREASES IN THE STATE INCOME TAX LIABILITY
 OF SIMILAR REPRESENTATIVE CLASSES OF INDIVIDUAL AND CORPORATE TAXPAYERS.

   10/17/94  Senate Prefiled
   10/17/94  Senate Referred to Committee on Finance
   01/10/95  Senate Introduced and read first time SJ-75
   01/10/95  Senate Referred to Committee on Finance SJ-75

A JOINT RESOLUTION

PROPOSING AN AMENDMENT TO ARTICLE X OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO FINANCE AND TAXATION, BY ADDING AN APPROPRIATELY NUMBERED SECTION SO AS TO PROVIDE THAT LAWS ENACTED TO MAINTAIN CONFORMITY OF THE STATE INCOME TAX WITH THE PROVISIONS OF THE FEDERAL INCOME TAX MAY NOT RESULT IN INCREASES OR DECREASES IN THE STATE INCOME TAX LIABILITY OF SIMILAR REPRESENTATIVE CLASSES OF INDIVIDUAL AND CORPORATE TAXPAYERS.

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 an appropriately numbered Section to read:

"SECTION . If laws enacted to conform the state income tax to provisions of the federal Internal Revenue Code result in a net increase in state income tax revenues due solely to the conforming legislation, the General Assembly shall revise the laws imposing the state income tax so as to eliminate this net increase."

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 relating to finance and taxation be amended by adding an appropriately numbered section so as to provide that if laws enacted to conform the state income tax to federal income tax laws result in a net increase in state income tax revenue solely due to the conforming legislation, the General Assembly shall revise the laws imposing the state income tax so as to eliminate such an increase?

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'."