Current Status Introducing Body:Senate Bill Number:386 Primary Sponsor:Lourie Committee Number:06 Type of Legislation:GB Subject:Capital improvement bonds, bingo taxes Residing Body:Senate Current Committee:Finance Computer Document Number:386 Introduced Date:Jan 08, 1991 Last History Body:Senate Last History Date:Jan 08, 1991 Last History Type:Introduced and read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:Lourie Washington Giese Passailaigue Type of Legislation:General Bill
Bill Body Date Action Description CMN
---- ------ ------------ ------------------------------ ---
386 Senate Jan 08, 1991 Introduced and read first 06
time, referred to Committee
386 Senate Dec 10, 1990 Prefiled, referred to 06
Committee
View additional legislative information at the LPITS web site.
TO AMEND ACT 1377 OF 1968, AS LAST AMENDED BY ACT 189 OF 1989, RELATING TO THE ISSUANCE OF CAPITAL IMPROVEMENT BONDS, SO AS TO AUTHORIZE THE ISSUANCE OF ADDITIONAL BONDS, FOR THE COMMISSION ON AGING; TO AMEND SECTION FOUR OF ACT 1377 OF 1968, AS LAST AMENDED BY SECTION FOUR OF ACT 638 OF 1988, BY INCREASING THE LIMITATION ON THE MAXIMUM AGGREGATE PRINCIPAL INDEBTEDNESS OF THE STATE; AND TO AMEND SECTION 12-21-3440(B) OF THE 1976 CODE, RELATING TO BINGO TAXES, SO AS TO TEMPORARILY INCREASE THE TAX.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Item (f) of Section 3 of Act 1377 of 1968, as last amended by Section 30, Part II, Act 189 of 1989, is further amended by adding:
"Commission on Aging
(a) Repairs to existing multi-
purpose senior citizen
centers, satellite
centers, and nutrition
sites $511,900
(b) Construct ten multi-
purpose senior citizen
centers in counties
without centers 3,557,200
(c) Construct additions to
facilities to provide
additional space 641,025
(d) Construct ten satellite
centers in eight counties 1,841,000
(e) Construct seven replace-
ment senior centers 2,206,000
Total, Commission on Aging $8,757,125
The funds authorized in this subitem are for the projects identified in the Senior Citizens Center Survey published by the Commission on Aging in October, 1989, and updated August, 1990. The commission must receive Joint Bond Review Committee review and Budget and Control Board approval for each individual project, including the amount of funds required to complete the project. Without regard to a specific project, twenty-five percent of the total amount authorized in this item must begin to be funded in the groups to be released July 1, 1991, and January 1, 1992.
TOTAL, ALL AGENCIES $8,757,125"
SECTION 2. Section 4 of Act 1377 of 1968, as last amended by Act 638 of 1988, is further amended to read:
"Section 4. The aggregate principal indebtedness on account of bonds issued pursuant to this act may not exceed $1,445,782,506.29 $1,514,539,631.10. The limitation imposed by the provisions of this section does not apply to bonds issued on behalf of the Mental Health Commission as provided in Act 151 of 1983 and Acts 1272 and 1276 of 1970, as amended, or to bonds issued on behalf of the Commission on Mental Retardation as provided in Act 1087 of 1970 Article 7, Chapter 21, Title 44 of the 1976 Code. The limitation imposed by the provisions of this section is not considered to be an obligation of the contract made between the State and holders of bonds issued pursuant to this act, and the limitation imposed by the provisions of this section may be enlarged by acts amending it or reduced by the application of the Capital Reserve Fund or by amendments of this act. Within these limitations state capital improvement bonds may be issued under the conditions prescribed by this act."
SECTION 3. Section 12-21-3440(B) of the 1976 Code is amended to read:
"(B). The following are bingo taxes required according to the class of license:
(1) CLASS AA: The holder of a Class AA bingo license shall remit a bingo tax of eight nine dollars for each bingo player a session.
(2) CLASS B: The holder of a Class B bingo license shall remit a bingo tax of two dollars and fifty cents for each bingo player a session.
(3) CLASS C: No bingo tax may be assessed or collected from a Class C licensee.
(4) CLASS D: The holder of a Class D bingo license shall remit a bingo tax of four percent of gross proceeds.
(5) CLASS E: The holder of a Class E bingo license shall remit a bingo tax of four percent of gross proceeds.
One dollar from each Class AA license and fifty cents from each Class B license must be deposited in the General Fund of the State, to be used for partial payment of principal and interest payments for Capital Improvement Bond issues. From and after fiscal year 2006, the fee for a Class AA license must be eight dollars and the fee for a Class B license must be two dollars."
SECTION 4. This act takes effect upon approval by the Governor, except that Section 3 shall take effect July 1, 1991.