South Carolina General Assembly
110th Session, 1993-1994

Bill 4062


Indicates Matter Stricken
Indicates New Matter


                    Current Status

Introducing Body:               House
Bill Number:                    4062
Primary Sponsor:                Gamble
Committee Number:               30
Type of Legislation:            GB
Subject:                        Income tax, school building
                                purposes
Residing Body:                  House
Current Committee:              Ways and Means
Computer Document Number:       CYY/15451SD.93
Introduced Date:                19930414
Last History Body:              House
Last History Date:              19930414
Last History Type:              Introduced, read first time,
                                referred to Committee
Scope of Legislation:           Statewide
All Sponsors:                   Gamble
                                Stuart
                                Sturkie
                                Phillips
                                Riser
                                Wright
                                Spearman
Type of Legislation:            General Bill



History


Bill  Body    Date          Action Description              CMN  Leg Involved
____  ______  ____________  ______________________________  ___  ____________

4062  House   19930414      Introduced, read first time,    30
                            referred to Committee

View additional legislative information at the LPITS web site.


(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-7-2417 SO AS TO PROVIDE THAT INDIVIDUAL TAXPAYERS FILING STATE INCOME TAX RETURNS MAY DESIGNATE CONTRIBUTIONS FOR SCHOOL BUILDING PURPOSES IN THEIR SCHOOL DISTRICT OF RESIDENCE FROM THEIR REFUNDS OR OTHER SOURCES, AND TO PROVIDE FOR THE MANNER IN WHICH THIS INCOME TAX CHECKOFF SHALL BE COLLECTED AND DISTRIBUTED.

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

SECTION 1. The 1976 Code is amended by adding:

"Section 12-7-2417. (A) Each individual taxpayer required to file a state income tax return who desires to contribute funds for school building purposes in his school district of residence may designate the contribution on the appropriate state income tax form. The contribution may not increase or decrease the income tax liability of the taxpayer and may be made by reducing the income tax refunds of the taxpayer by the amount designated or by accepting additional payment from the taxpayer by the amounts designated, whichever is appropriate.

(B) All South Carolina individual income tax return forms must contain a designation for these contributions and a place in which the taxpayer shall designate the school district in which he resides.

(C) Taxpayers who are entitled to refunds shall have the refunds reduced by the amount designated by the taxpayer. The commission shall determine annually the total amount so designated, plus the amount received in excess payments so designated and shall report the total amount to the State Treasurer. The commission shall transfer the total amount to each respective school district at the earliest possible time.

(D) The incremental cost of administration of this contribution must be paid by each school district receiving funds under this section from amounts received pursuant to this section."

SECTION 2. This act takes effect upon approval by the Governor.

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