H 2701 Session 104 (1981-1982)
H 2701 General Bill, By H.H. Keyserling, R.L. Altman, L. Blanding, V.L. Crocker,
J.G. Felder, P. Freeman, J.W. Graves, A.V. Rawl, Sheheen and J.M. White
A Bill to amend Section 12-35-510, Code of Laws of South Carolina, 1976,
relating to the imposition of the sales tax and the rate thereof, so as to
increase such rate to five percent and to delete a reference to the use of
such tax; to amend Section 12-35-550, as amended, relating to exemptions from
sales and use taxes, so as to exempt the gross proceeds of the sale of food
intended for human consumption; to amend Section 12-35-610, relating to
amounts that may be added to the sales price because of the sales tax, so as
to revise such amounts; to amend Section 12-35-810, relating to the imposition
of use taxes and certain excise taxes and the rates thereof, so as to increase
such rates to five percent; to amend Section 12-35-1120, as amended, relating
to the imposition of sales and use taxes on the gross proceeds derived from
the rental of certain lodgings and campground spaces and the rate of tax
therefor, so as to increase such rate to five percent; to amend Section
12-35-1550, relating to the disposition and use of certain tax revenue
collected, so as to further provide for such disposition including a provision
that five percent of the sales and use taxes collected shall be remitted to a
property tax relief fund from which such monies shall be rebated to the
several counties and municipalities of this State; to add Section 12-35-1551
so as to establish the property tax relief fund and provide the manner in
which and conditions under which monies shall be rebated from the fund to the
counties and municipalities including a requirement that ad valorem taxes be
rolled back; to add Section 12-35-1552 so as to establish a property tax
relief council and provide for its membership, duties and powers; to add
Section 12-35-1553 so as to provide for the procedure for the rollback of ad
valorem taxes by the counties and municipalities; and to repeal Section
12-35-520, relating to the use of the proceeds of certain increases in the
sales and use tax.
04/09/81 House Introduced and read first time HJ-1765
04/09/81 House Referred to Committee on Ways and Means HJ-1765
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