South Carolina General Assembly
113th Session, 1999-2000

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Bill 4305

Indicates Matter Stricken
Indicates New Matter

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

COMMITTEE REPORT

April 19, 2000

H. 4305

Introduced by Reps. Wilkins, Leach, Delleney, Haskins, Hawkins, Bailey, Vaughn, Altman, Hinson, Cotty, Jennings and Riser

S. Printed 4/19/00--H.

Read the first time January 11, 2000.

            

THE COMMITTEE ON WAYS AND MEANS

To whom was referred a Bill (H. 4305), to amend Section 9-11-25, as amended, Code of Laws of South Carolina, 1976, relating to the options allowing probate judges to participate in either the South Carolina Police Officers Retirement System or, etc., respectfully

REPORT:

That they have duly and carefully considered the same, and recommend that the same do pass with amendment:

Amend the bill, as and if amended, by striking SECTION 1 and inserting:

/ SECTION 1. Section 9-11-25 of the 1976 Code, as amended by Act 336 of 1992, is further amended by adding two paragraphs at the end to read:

"Masters-in-equity may elect to participate in either the retirement system established pursuant to this chapter or the South Carolina Retirement System established pursuant to Chapter 1 of this title.

In addition to the fee imposed pursuant to Section 14-11-310(2) for preparation of a deed, there is imposed an additional fee equal to fifteen dollars which must be collected, administered, and Disbursed in the same manner as the fee imposed pursuant to Section 14-11-310(2)." /

Renumber sections to conform.

Amend totals and title to conform.

ROBERT W. HARRELL, JR., for Committee.

STATEMENT OF ESTIMATED FISCAL IMPACT

ESTIMATED FISCAL IMPACT ON GENERAL FUND EXPENDTURES IS:

$0 (No additional expenditures or savings are expected)

ESTIMATED FISCAL IMPACT ON FEDERAL & OTHER FUND EXPENDITURES IS:

$0 (No additional expenditures or savings are expected)

EXPLANATION OF GENERAL FUND IMPACT:

There are 21 masters-in-equity statewide who are paid by their respective counties. Since the salaries are not paid by the State, there will be no impact upon the General Fund of the State nor on federal and/or other funds.

LOCAL GOVERNMENT IMPACT:

Since the statutes currently provide for the masters-in-equity to be members in the regular retirement system, there will be an additional cost to the county of approximately 4% of the salary should the member elect to participate in the Police Officers Retirement System.

Approved By:

Les Boles

Office of State Budget

A BILL

TO AMEND SECTION 9-11-25, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE OPTIONS ALLOWING PROBATE JUDGES TO PARTICIPATE IN EITHER THE SOUTH CAROLINA POLICE OFFICERS RETIREMENT SYSTEM OR THE SOUTH CAROLINA RETIREMENT SYSTEM, SO AS TO EXTEND A SIMILAR OPTION TO MASTERS-IN-EQUITY.

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

SECTION 1. Section 9-11-25 of the 1976 Code, as amended by Act 336 of 1992, is further amended by adding a paragraph at the end to read:

"Masters-in-equity may elect to participate in either the retirement system established pursuant to this chapter or the South Carolina Retirement System established pursuant to Chapter 1 of this title."

SECTION 2. This act takes effect upon approval by the Governor.

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