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Current Status Bill Number:View additional legislative information at the LPITS web site.4082 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:20010509 Primary Sponsor:Koon All Sponsors:Koon, Frye, Stuart and Knotts Drafted Document Number:l:\council\bills\bbm\10335htc01.doc Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Lexington County School Districts, assessment of utility property and taxes paid on to be equalized among districts History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ House 20010509 Introduced, read first time, 30 HWM referred to Committee Versions of This Bill
TO EQUALIZE AMONG THE SCHOOL DISTRICTS OF LEXINGTON COUNTY THE DISTRIBUTION OF PROPERTY TAXES FOR SCHOOLS PAID ON UTILITY PROPERTY IN LEXINGTON COUNTY AND SIMILARLY TO EQUALIZE AMONG THOSE DISTRICTS THE ASSESSED VALUE OF UTILITY PROPERTY IN LEXINGTON COUNTY FOR PURPOSES OF CALCULATING THE INDEX OF TAXPAYING ABILITY AND THE CONSTITUTIONAL BONDED INDEBTEDNESS LIMITATION.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. (A) Notwithstanding any other provision of law, the school taxes and taxes for bonded indebtedness for schools paid on property in Lexington County classified as utility property must be credited to a separate fund in the Lexington County Treasury and distributed to the school districts of Lexington County based on district average daily membership (ADM). In the case of Richland-Lexington School District 5, the ADM counted in the distribution is only that ADM attributable to Lexington County.
(B) For purposes of calculating the index of taxpaying ability for the Education Finance Act and for the calculation of the constitutional limitation on bonded indebtedness for schools, the assessed value of utility property in Lexington County must be allocated in the same proportion that school taxes are distributed pursuant to subsection (A) of this section.
SECTION 2. This act takes effect upon approval by the Governor.
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