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
Bill Body Date Action Description CMN Leg Involved ____ ______ ____________ ______________________________ ___ ____________ 4062 House 19930414 Introduced, read first time, 30 referred to CommitteeView additional legislative information at the LPITS web site.
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.