S 475 Session 112 (1997-1998)
S 0475 General Bill, By McConnell, Courson, Passailaigue and J.V. Smith
A BILL TO AMEND SECTION 12-6-5060, CODE OF LAWS OF SOUTH CAROLINA, 1976,
RELATING TO TAX RETURNS, SO AS TO PROVIDE THAT TAXPAYERS MAY CONTRIBUTE TO THE
HUNLEY TRUST FUND BY DESIGNATING THE CONTRIBUTION ON HIS INCOME TAX RETURN;
AND TO AMEND ARTICLE 1, CHAPTER 7, TITLE 54, RELATING TO SHIPWRECKS AND
SALVAGE OPERATIONS, BY ADDING SECTION 54-7-110, SO AS TO PROVIDE FOR A HUNLEY
TRUST FUND.
03/05/97 Senate Introduced and read first time SJ-5
03/05/97 Senate Referred to Committee on Finance SJ-5
A BILL
TO AMEND SECTION 12-6-5060, CODE OF LAWS OF SOUTH
CAROLINA, 1976, RELATING TO TAX RETURNS, SO AS TO
PROVIDE THAT TAXPAYERS MAY CONTRIBUTE TO THE
HUNLEY TRUST FUND BY DESIGNATING THE
CONTRIBUTION ON HIS INCOME TAX RETURN; AND TO
AMEND ARTICLE 1, CHAPTER 7, TITLE 54, RELATING TO
SHIPWRECKS AND SALVAGE OPERATIONS, BY ADDING
SECTION 54-7-110, SO AS TO PROVIDE FOR A HUNLEY
TRUST FUND.
Be it enacted by the General Assembly of the State of South
Carolina:
SECTION 1. Section 12-6-5060 (A) of the 1976 Code is amended
to read:
"Section 12-6-5060. (A) Each taxpayer required to file a state
individual income tax return may contribute to the Nongame Wildlife
and Natural Areas Program Fund, the Children's Trust Fund of South
Carolina as created by Section 20-7-5010, the Hunley Trust Fund
as created by Section 54-7-110, or the Eldercare Trust Fund of
South Carolina as created by Section 43-21-160 by designating the
contribution on the return. The contribution may be made by
reducing the income tax refund or by remitting additional payment by
the amount designated."
SECTION 2. Article 1, Chapter 7, Title 54 of the 1976 Code is
amended by adding:
"Section 54-7-110. (A) The Hunley Commission shall cause the
creation of the Hunley Trust Fund, an eleemosynary corporation to
finance the recovery, preservation, exhibition, and protection of the
H. L. Hunley. The Commission shall appoint a board of directors in
a manner determined by the commission. Upon creation, the board
must perform the necessary actions to file as a private, nonprofit
eleemosynary organization under applicable state and federal law.
The board of directors of the Hunley Trust Fund shall carry out those
activities necessary to administer the fund. The Hunley Commission
must approve any expenditures from the fund. The board is not
authorized to bind the State in any manner, whether by contract or
otherwise.
(B) To carry out its assigned functions to the extent permitted
under subsection (A), the board is authorized to:
(1) receive gifts, bequests, and devises for deposit and
investment into the Hunley Trust Fund;
(2) invest Hunley Trust Fund monies;
(3) expend funds to recover, preserve, exhibit, and protect the
Hunley, as authorized by the Hunley Commission;
(4) solicit proposals for projects to accomplish these purposes.
(C) The board must make a complete report of the activities of the
Hunley Trust Fund annually to the General Assembly and the State
Auditor.
(D) Funds from the receipt of contributions pursuant to Section
12-6-5060 must be deposited in the Trust Fund for disbursement as
prescribed by this section."
SECTION 3. This act takes effect upon approval by the Governor.
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