Current Status Introducing Body:
HouseBill Number: 3173Primary Sponsor: HarvinCommittee Number: 30Type of Legislation: GBSubject: Fire insurance premium taxResiding Body: HouseCurrent Committee: Ways and MeansComputer Document Number: BR1/1046.SDIntroduced Date: Jan 09, 1991Last History Body: HouseLast History Date: Jan 09, 1991Last History Type: Introduced and read first time, referred to CommitteeScope of Legislation: StatewideAll Sponsors: HarvinType of Legislation: General Bill
Bill Body Date Action Description CMN ---- ------ ------------ ------------------------------ --- 3173 House Jan 09, 1991 Introduced and read first 30 time, referred to CommitteeView additional legislative information at the LPITS web site.
TO AMEND SECTION 38-7-30, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO A ONE PERCENT TAX ON FIRE INSURANCE PREMIUMS TO COVER THE EXPENSES OF CERTAIN FIRE INSPECTIONS AND INVESTIGATIONS, SO AS TO PROVIDE THAT THE MONIES COLLECTED PURSUANT TO THIS SECTION MUST BE USED TO FUND THE SOUTH CAROLINA FIRE ACADEMY AS THE GENERAL ASSEMBLY PROVIDES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 38-7-30 of the 1976 Code is amended to read:
"Section 38-7-30. Any expenses, including expenses of counsel, detectives, and officers, incurred by the Commissioner or any deputy in the performance of the duties imposed upon him in the inspection of buildings and premises and the investigation of charges of discrimination in rates, must be defrayed by the fire insurance companies doing business in this State, and a A tax of one percent on the gross premium receipts less premiums returned on canceled policy contracts and less dividends and returns of unabsorbed premium deposits of all fire insurance companies is levied for this purpose to fund the South Carolina Fire Academy as the General Assembly provides. These taxes must be, to be collected by the commissioner as other taxes on fire insurance companies are collected. The commissioner shall keep a separate account of all monies received and disbursed under the provisions of this section, shall transit the monies received pursuant to this section to the State Treasurer, and shall include the account this information in his annual report."
SECTION 2. This act takes effect upon approval by the Governor.