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Bill 3733

                    Current Status

Bill Number:                      3733
Type of Legislation:              General Bill GB
Introducing Body:                 House
Introduced Date:                  20010320
Primary Sponsor:                  Harrell
All Sponsors:                     Harrell
Drafted Document Number:          l:\council\bills\bbm\9952htc01.doc
Residing Body:                    Senate
Subject:                          Homestead exemption, residential property 
                                  tax; reimbursement formula of amounts received 
                                  by school districts; Taxation


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
------  20010515  Scrivener's error corrected
Senate  20010514  Committee report: Favorable            06 SF
Senate  20010417  Introduced, read first time,           06 SF
                  referred to Committee
House   20010412  Read third time, sent to Senate
House   20010411  Read second time, unanimous
                  consent for third reading on
                  Thursday, 20010412
House   20010405  Committee report: Favorable            30 HWM
House   20010320  Introduced, read first time,           30 HWM
                  referred to Committee


              Versions of This Bill
Revised on April 5, 2001 - Word format
Revised on May 14, 2001 - Word format
Revised on May 15, 2001 - Word format

Indicates Matter Stricken

Indicates New Matter

COMMITTEE REPORT

May 14, 2001

    H. 3733

S. Printed 5/14/01--S.    [SEC 5/15/01 3:26 PM]

Read the first time April 17, 2001.

    To whom was referred a Bill (H. 3733) to amend Section 12-37-251, Code of Laws of South Carolina, 1976, relating to the residential property tax exemption, so as to revise the "Hold Harmless" base year, etc., respectfully

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

HUGH K. LEATHERMAN, SR. for Committee.

TO AMEND SECTION 12-37-251, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE RESIDENTIAL PROPERTY TAX EXEMPTION, SO AS TO REVISE THE "HOLD HARMLESS" BASE YEAR IN THE REIMBURSEMENT DISTRIBUTION FORMULA FROM AMOUNTS RECEIVED BY SCHOOL DISTRICTS IN FISCAL YEAR 1998-99 TO AMOUNTS RECEIVED IN THE PRECEDING FISCAL YEAR.

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

SECTION    1.    Section 12-37-251(B)(2) of the 1976 Code is amended to read:

    "(2)    School districts must be reimbursed on a per capita basis, but a district may not receive as a reimbursement for a the current fiscal year an amount less than the actual reimbursement amount it received in the preceding fiscal year 1998-99. If amounts credited to the Trust Fund for Tax Relief for a fiscal year pursuant to item (1) of this subsection are insufficient to pay the full amount of the reimbursements provided by this item, then all amounts credited to the trust fund for a fiscal year for this reimbursement in excess of the amount of the reimbursements paid pursuant to this section in fiscal year 1998-99 must be allocated only to those districts receiving less than the full per capita reimbursement, and this allocation must be on a per capita basis among only those counties receiving some part of this allocation."

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

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