Current Status Introducing Body:House Bill Number:5125 Primary Sponsor:Davenport Committee Number:30 Type of Legislation:GB Subject:Intercepted federal income tax payments Residing Body:House Current Committee:Ways and Means Computer Document Number:JIC/5884HTC.94 Introduced Date:19940414 Last History Body:House Last History Date:19940414 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:Davenport Type of Legislation:General Bill
Bill Body Date Action Description CMN Leg Involved
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5125 House 19940414 Introduced, read first time, 30
referred to Committee
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TO PROVIDE THAT BY 1998 THE STATE BUDGET AND CONTROL BOARD SHALL DEVISE AND THE GENERAL ASSEMBLY SHALL ENACT A PLAN TO INTERCEPT THE FEDERAL INDIVIDUAL AND CORPORATE INCOME TAX PAYMENTS MADE BY RESIDENTS OF THIS STATE, TO PROVIDE FOR THE DEDUCTION FROM THESE INTERCEPTED PAYMENTS OF THE COST OF UNFUNDED FEDERAL MANDATES ON THIS STATE AND POLITICAL SUBDIVISIONS OF THIS STATE, AND TO PROVIDE FOR NEGOTIATIONS WITH THE FEDERAL GOVERNMENT ON THE REMAINING BALANCE OF INTERCEPTED TAXES TO BE REMITTED TO THE FEDERAL GOVERNMENT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The State Budget and Control Board shall by 1998 devise and the General Assembly shall enact a plan as follows:
SECTION 2. This act takes effect upon approval by the Governor.