H*4082(Rat #0296, Act #0271 of 2012)  General Bill, By Vick, Edge, Hiott, Hayes, 
R.L. Brown, Jefferson, Bowers, Anthony, Skelton, Williams, McLeod, G.M. Smith, 
Weeks, Gilliard, Agnew, Horne, Funderburk, Tribble, Pinson, Clemmons and 
Neilson
 AN ACT TO AMEND SECTION 38-7-20, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA,
 1976, RELATING TO THE IMPOSITION OF THE INSURANCE PREMIUM TAX, SO AS TO
 PROVIDE THAT BEGINNING JULY 1, 2013, THROUGH JUNE 30, 2017, 2.25 PERCENT OF
 THE ANNUAL REVENUE OF THIS TAX MUST BE TRANSFERRED TO THE SOUTH CAROLINA
 FORESTRY COMMISSION AND USED BY IT FOR FIREFIGHTING AND FIREFIGHTING EQUIPMENT
 REPLACEMENT. - ratified title

   04/13/11  House  Introduced and read first time (House Journal-page 20)
   04/13/11  House  Referred to Committee on Ways and Means
                     (House Journal-page 20)
   05/04/11  House  Member(s) request name added as sponsor: Hiott
   01/12/12  House  Member(s) request name added as sponsor: Hayes,
                     R.L.Brown
   01/18/12  House  Member(s) request name added as sponsor: Jefferson
   01/24/12  House  Member(s) request name added as sponsor: Bowers,
                     Anthony
   01/31/12  House  Member(s) request name added as sponsor: Skelton
   02/02/12  House  Member(s) request name added as sponsor: Williams
   02/08/12  House  Member(s) request name added as sponsor: McLeod
   02/09/12  House  Member(s) request name added as sponsor:
                     G.M.Smith, Weeks
   02/22/12  House  Member(s) request name added as sponsor: Gilliard
   03/01/12  House  Member(s) request name added as sponsor: Agnew
   03/12/12  House  Member(s) request name added as sponsor: Horne
   03/14/12  House  Member(s) request name added as sponsor:
                     Funderburk, Tribble, Pinson
   04/19/12  House  Committee report: Favorable with amendment Ways
                     and Means (House Journal-page 8)
   04/25/12  House  Member(s) request name added as sponsor:
                     Clemmons, Neilson
   04/26/12  House  Amended (House Journal-page 61)
   04/26/12  House  Read second time (House Journal-page 61)
   04/26/12  House  Roll call Yeas-103  Nays-0 (House Journal-page 62)
   04/26/12  House  Unanimous consent for third reading on next
                     legislative day (House Journal-page 63)
   04/27/12  House  Read third time and returned to Senate with
                     amendments (House Journal-page 3)
   05/01/12  Senate Introduced and read first time (Senate Journal-page 7)
   05/01/12  Senate Referred to Committee on Finance
                     (Senate Journal-page 7)
   05/30/12  Senate Committee report: Favorable with amendment
                     Finance (Senate Journal-page 13)
   05/31/12  Senate Committee Amendment Adopted (Senate Journal-page 60)
   05/31/12  Senate Read second time (Senate Journal-page 60)
   05/31/12  Senate Roll call Ayes-37  Nays-1 (Senate Journal-page 60)
   06/05/12  Senate Read third time and returned to House with
                     amendments (Senate Journal-page 46)
   06/06/12  House  Concurred in Senate amendment and enrolled
                     (House Journal-page 6)
   06/06/12  House  Roll call Yeas-74  Nays-0 (House Journal-page 6)
   06/12/12         Ratified R 296
   06/18/12         Vetoed by Governor
   06/19/12  House  Veto overridden by originating body Yeas-108  Nays-2
   06/20/12  Senate Veto overridden Ayes-42  Nays-1
   07/02/12         Effective date 07/01/13
   07/09/12         Act No. 271

(A271, R296, H4082)

AN ACT TO AMEND SECTION 38-7-20, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE IMPOSITION OF THE INSURANCE PREMIUM TAX, SO AS TO PROVIDE THAT BEGINNING JULY 1, 2013, THROUGH JUNE 30, 2017, 2.25 PERCENT OF THE ANNUAL REVENUE OF THIS TAX MUST BE TRANSFERRED TO THE SOUTH CAROLINA FORESTRY COMMISSION AND USED BY IT FOR FIREFIGHTING AND FIREFIGHTING EQUIPMENT REPLACEMENT.

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

Use of insurance premium tax revenue

SECTION    1.    Section 38-7-20 of the 1976 Code, as last amended by Act 73 of 2003, is further amended to read:

"Section 38-7-20.    (A)    In addition to all license fees and taxes otherwise provided by law, there is levied upon each insurance company licensed by the director or his designee an insurance premium tax based upon total premiums, other than workers' compensation insurance premiums, and annuity considerations, written by the company in the State during each calendar year ending on the thirty-first day of December. For life insurance, the insurance premium tax levied herein is equal to three-fourths of one percent of the total premiums written. For all other types of insurance, the insurance premium tax levied in this section is equal to one and one-fourth percent of the total premiums written. In computing total premiums, return premiums on risks and dividends paid or credited to policyholders are excluded.

(B)    Effective July 1, 2013, through June 30, 2017, two and one-quarter percent of the revenue of the premium taxes collected pursuant to this section must be transferred to the South Carolina Forestry Commission and used by that agency for firefighting and firefighting equipment replacement. The remaining insurance premium taxes collected pursuant to this section must be deposited to the credit of the general fund of the State."

Time effective

SECTION    2.    This act takes effect July 1, 2013.

Ratified the 12th day of June, 2012.

Vetoed by the Governor -- 6/18/12.

Veto overridden by House -- 6/19/12.

Veto overridden by Senate -- 6/20/12.