Current Status Bill Number:4479 Type of Legislation:Joint Resolution JR Introducing Body:House Introduced Date:19980122 Primary Sponsor:Bauer All Sponsors:Bauer, Knotts, Young-Brickell, Moody-Lawrence, Limehouse, Kennedy, Simrill, Whatley, Clyburn, Chellis, Meacham, Keegan, Lloyd, Inabinett, Tripp, Gourdine, Scott, Bailey, Law, Loftis, Leach, Byrd, Barfield, Stille, J. Hines, Stoddard, Phillips, Kirsh, Davenport, McCraw, Cato, Riser, McMaster and Jordan Drafted Document Number:dka\4721mm.98 Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Motor vehicle property taxes, tax cuts provided; Taxation, exemptions; local government documentation
Body Date Action Description Com Leg Involved
______ ________ _______________________________________ _______ ____________
House 19980122 Introduced, read first time, 30 HWM
referred to Committee
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PROPOSING AN AMENDMENT TO SECTION 1(8), ARTICLE X OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO PROPERTY TAXATION AND ASSESSMENT RATIOS FOR PROPERTY, SO AS TO PROVIDE A TAX CUT FOR PERSONAL VEHICLES, LOWERING THE TAXES BY TWENTY-FIVE DOLLARS FOR TAX YEAR 1999, INCREASING THE TAX CUT TO SEVENTY-FIVE DOLLARS FOR TAX YEAR 2000, AND LOWERING THE TAX AN ADDITIONAL FIFTY DOLLARS IN EACH LATER TAX YEAR, TO PROVIDE THAT THE STATE REPLACE AFFECTED LOCAL REVENUE, TO ALLOW THE GENERAL ASSEMBLY TO DELAY FOR ONE YEAR ALL OR PART OF THE NEXT YEAR'S INCREASE IN THE TAX CUT AMOUNT IF A FURTHER TAX CUT WOULD RESULT IN TOTAL REMAINING REVENUES FROM ALL SOURCES GROWING LESS THAN ONE HUNDRED MILLION DOLLARS, TO PROVIDE FOR LOCAL VOTER APPROVAL FOR A NEW TAX OR AN INCREASED TAX OR MILL LEVY, AND TO REQUIRE THAT THE TAX CUTS BE REFLECTED IN LOCAL GOVERNMENT DOCUMENTATION OF PROPERTY TAXATION.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. It is proposed that Section 1(8), Article X of the Constitution of this State be amended to read:
"(8) (A) Except as provided in subitem (B) of this item, all other personal property shall must be taxed on an assessment equal to ten and one-half percent of the fair market value of such the property.
(B) Property tax on personal motor vehicles, owned and operated for individual or family purposes only, must be eliminated, beginning with a tax cut of twenty-five dollars in tax year 1999, seventy-five dollars in tax year 2000, and an additional fifty dollars in each later tax year.
(1) The Comptroller General shall pay annually from the general fund of the State to the county treasurer of the county in which the personal motor vehicle is registered for the account of each county, school district, or special district a sum equal to the amount of taxes that was not collected for the county, school district, or special district by reason of the tax cut provided for in this section and shall pay annually to the governing body of the municipality in which the personal motor vehicle is located a sum equal to the amount of taxes that was not collected for the municipality by reason of the tax cut provided for in this section.
(2) The county treasurer and municipal governing body shall furnish the Comptroller General by April 1 following the tax year, or during an extension authorized by the Comptroller General not to exceed sixty days, an accounting or statement as prescribed by the Comptroller General that reflects the amount of county, municipal, school district, or special district taxes that were not collected because of the tax cut. Funds paid by the Comptroller General as the result of an erroneous or improper application must be returned to the Comptroller General for deposit in the general fund of the State.
(3) Implementation of the tax cut allowed in this section may be delayed in whole or in part for a later tax year only if the further tax cut or replacement amounts in that year would result in a growth from remaining revenue sources of less than one hundred million dollars.
(4)(a) Each city, county, and fiscally independent school district must have the majority approval of its voting electorate in advance of a new tax, tax increase, or mill levy above the following or prior year, except a county council, city, or fiscally independent school district may issue without voter approval repaid bonds or notes that do not total eight percent or more of the assessed value of all taxable property of its jurisdiction.
(b) The maximum annual percentage change in fiscal revenue that may be spent by a county council, city, or fiscally independent school district without advance voter approval equals the fiscal year revenue for the prior year adjusted for inflation in the prior year plus the percentage change in its population from the previous calendar year, based on the most recent population date available from the South Carolina Budget and Control Board. Fiscal year revenue means all revenue except that used for refunds made in the current and next fiscal year or revenue from gifts, federal funds, state funds, intergovernmental fees, investment interests, and borrowed money or voter approved revenue changes.
(5) All notices, bills, filings, reports, returns, receipts, applications, or other documents issued in connection with property taxation of personal motor vehicles, owned and operated for individual or family purposes only, must reflect the tax cut for property taxation of personal motor vehicles."
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 Section 1(8), Article X of the Constitution of this State relating to property taxation and assessment for property be amended so as to provide a tax cut for personal vehicles, lowering the taxes by twenty-five dollars for tax year 1999, increasing the tax cut to seventy-five dollars for tax year 2000, and lowering the tax an additional fifty dollars in each later tax year, to provide that the State replace affected local revenue, to allow the General Assembly to delay for one year all or part of the next year's increase in the tax cut amount if a further tax cut would result in total remaining revenues from all sources growing less than one hundred million dollars, to provide for local voter approval for a new tax or an increased tax or mill levy, and to require that the tax cuts be reflected in local government documentation of property taxation?
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'."