Current Status Introducing Body:Senate Bill Number:981 Primary Sponsor:Rose Committee Number:06 Type of Legislation:GB Subject:Sales tax revenues, distribution of Residing Body:Senate Current Committee:Finance Computer Document Number:JIC/5217HC.94 Introduced Date:19940111 Last History Body:Senate Last History Date:19940111 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:Rose Type of Legislation:General Bill
Bill Body Date Action Description CMN Leg Involved
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981 Senate 19940111 Introduced, read first time, 06
referred to Committee
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TO AMEND SECTION 4-10-70, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DISTRIBUTION TO COUNTIES AND MUNICIPALITIES OF LOCAL SALES AND USE TAX REVENUES, SO AS TO DELETE THE REQUIREMENT THAT EVERY RECIPIENT POLITICAL SUBDIVISION RECEIVE IN A FISCAL YEAR NO LESS THAN IT RECEIVED FROM THIS SOURCE IN THE PREVIOUS FISCAL YEAR.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 4-10-70 of the 1976 Code, as added by Act 317 of 1990, is amended to read:
"Section 4-10-70. No eligible unit within a county area may receive less from the distribution of the sales and use tax authorized by this chapter than it received in the previous fiscal year. However, if If the amount of collections from the sales and use tax in the county area is less than the preceding fiscal year's collections, then the distributions to the eligible units within the county area must be reduced on a proportional basis."
SECTION 2. This act takes effect upon approval by the Governor.