South Carolina General Assembly
111th Session, 1995-1996

Bill 299


Indicates Matter Stricken
Indicates New Matter


                    Current Status

Bill Number:                       299
Type of Legislation:               Joint Resolution JR
Introducing Body:                  Senate
Introduced Date:                   19950110
Primary Sponsor:                   McConnell 
All Sponsors:                      McConnell 
Drafted Document Number:           JIC\5098HTC.95
Residing Body:                     Senate
Current Committee:                 Finance Committee 06 SF
Subject:                           Property taxes, imposition
                                   of



History


Body    Date      Action Description                       Com     Leg Involved
______  ________  _______________________________________  _______ ____________

Senate  19950110  Introduced, read first time,             06 SF
                  referred to Committee

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

A JOINT RESOLUTION

PROPOSING AN AMENDMENT TO ARTICLE X, CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO FINANCE AND TAXATION, BY ADDING AN APPROPRIATELY NUMBERED SECTION LIMITING THE IMPOSITION OF PROPERTY TAXES FOR COUNTIES, MUNICIPALITIES, AND SCHOOLS TO THOSE TAXES THAT PRODUCE NO MORE REVENUE THAN BASE YEAR PROPERTY TAX REVENUES, TO DEFINE BASE YEAR PROPERTY TAX REVENUES AS PROPERTY TAX REVENUE FOR THE MOST RECENTLY COMPLETED PROPERTY TAX YEAR PLUS REVENUES ATTRIBUTABLE TO NEW AND PREVIOUSLY UNTAXED PROPERTY, REVENUES DERIVED BY APPLYING AN INFLATION FACTOR EQUAL TO THE RISE IN THE CONSUMER PRICE INDEX IN THE MOST RECENTLY COMPLETED PROPERTY TAX YEAR, REVENUES DERIVED BY APPLYING A FACTOR EQUAL TO THE AVERAGE PERCENTAGE INCREASES IN THE MEDIAN AGE OF THE TAXING JURISDICTION'S POPULATION, REVENUES ATTRIBUTABLE TO MILLAGE IMPOSED PURSUANT TO REFERENDUM TO RETIRE BONDED INDEBTEDNESS, AND REVENUES EQUAL TO AN AMOUNT APPROVED BY THE QUALIFIED ELECTORS OF THE JURISDICTION AT A REFERENDUM HELD AT THE TIME OF THE GENERAL ELECTION, TO PROVIDE THAT THE GOVERNING BODY OF A COUNTY, MUNICIPALITY, OR THE GOVERNING BODY AUTHORIZED BY LAW TO IMPOSE SCHOOL TAXES MAY IMPOSE PROPERTY TAXES IN EXCESS OF BASE YEAR PROPERTY TAX REVENUES WITH AT LEAST A TWO-THIRDS VOTE OF THE TOTAL MEMBERSHIP OF THE GOVERNING BODY, TO PROVIDE THAT THESE REVENUES RESULTING FROM THE SUPERMAJORITY VOTE ARE NOT ADDED TO BASE YEAR PROPERTY TAX REVENUES, TO PROVIDE THAT THESE LIMITATIONS ARE CUMULATIVE TO OTHER LIMITATIONS IMPOSED BY LAW ON THE TAXING POWER, TO PROVIDE THAT CALCULATIONS OF THE CONSUMER PRICE INDEX AND INCREASE IN MEDIAN POPULATION AGE MUST USE DATA PROVIDED BY THE BUREAU OF LABOR STATISTICS OF THE UNITED STATES DEPARTMENT OF LABOR AND BUREAU OF THE CENSUS OF THE UNITED STATES DEPARTMENT OF COMMERCE, OR SUCCESSOR AGENCIES, AND TO PROVIDE THAT THE LIMITATION IMPOSED BY THIS SECTION FIRST APPLY FOR THE PROPERTY TAX YEARS SUCCEEDING THE YEAR OF RATIFICATION.

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

SECTION 1. It is proposed that Article X of the Constitution of this State be amended by adding an appropriately numbered section to read:

"SECTION ___. (a) Except as provided in subsection (b), the governing body of a county or municipality or the governing body authorized by law to impose property taxes for schools may not impose property taxes that increase its property tax revenues for a property tax year over its base year property tax revenues. For purposes of this subsection, `base year property tax revenues' of a county or municipality or the governing body authorized by law to impose property taxes for schools are its property tax revenues for the most recently completed property tax year plus:

(1) revenues equal to an amount not exceeding the result obtained by applying the millage for the most recently completed property tax year to assessed value of new construction and improvements and any other property not previously taxed;

(2) revenues equal to an amount not exceeding the result obtained by multiplying the jurisdiction's property tax revenues for the most recently completed property tax year by the percentage increase, if any, in the consumer price index in that property tax year;

(3) revenues equal to an amount not exceeding the result obtained by multiplying the jurisdiction's property tax revenues for the most recently completed property tax year by the average percentage increase, if any, in the median age of the jurisdiction's population in the ten most recently completed property tax years;

(4) revenues attributable to millage imposed to retire bonded indebtedness if this bonded indebtedness was approved by referendum as provided in Sections 14(6) and 15(5) of this article; and

(5) revenues equal to an amount approved by the qualified electors of the jurisdiction at a referendum held at the time of the general election.

(b) Notwithstanding the limitation imposed by subsection (a), the governing body of a county or municipality and the governing body authorized by law to impose property taxes for schools may impose property taxes producing revenues for a property tax year in excess of base year property tax revenues by at least a two-thirds vote of the total membership of the governing body. However, these additional revenues may not be added to base year property revenues for purposes of calculating the limitation provided in subsection (a).

(c) The limitation on the property taxing power provided by this section is cumulative to any other limitation imposed by law on the property taxing power.

(d) Calculations of the consumer price index and the increase in median population age must use data provided by the Bureau of Labor Statistics of the United States Department of Labor and the Bureau of the Census of the United States Department of Commerce, or successor agencies.

(e) The limitation imposed by this section first applies for the property tax year succeeding the year of ratification of this section."

SECTION 2. "The proposed amendment must be submitted to the qualified electors at the next general election for representatives. Ballots must be provided at the various voting precincts with the following words printed or written on the ballot:

`Must Article X of the Constitution of this State, relating to finance and taxation, be amended by adding an appropriately numbered section limiting the imposition of property taxes for counties, municipalities, and schools to those taxes that produce no more revenue than base year property tax revenues, to define base year property tax revenues as property tax revenue for the most recently completed property tax year plus revenues attributable to new and previously untaxed property, revenues derived by applying an inflation factor to property tax revenues for the most recently completed property tax year equal to the percentage increase in the consumer price index in the most recently completed property tax year, revenues derived by applying a factor equal to the average percentage increase in the median age of the taxing jurisdiction's population in the ten most recently completed property tax years, revenues attributable to millage imposed pursuant to referendum to retire bonded indebtedness, and revenues equal to an amount approved by the qualified electors of the jurisdiction at a referendum held at the time of the general election, to provide that the governing body of a county, municipality, and the governing body authorized by law to impose school taxes may impose property taxes in excess of base year property tax revenues with at least a two-thirds vote of the total membership of the governing body, to provide that these revenues resulting from the supermajority vote are not added to base year property tax revenues, to provide that these limitations are cumulative to other limitations imposed by law on the taxing power, to provide that calculations of the consumer price index and increase in median population age must use data provided by the Bureau of Labor Statistics and Bureau of the Census, or successor agencies, and to provide that the limitations imposed by this section first apply for the property tax year succeeding the year of ratification?

Yes []

No []

Those voting in favor of the question shall deposit a ballot with a check or cross mark in the square after the word `Yes', and those voting against the question shall deposit a ballot with a check or cross mark in the square after the word `No'."

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