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Bill 4082

                    Current Status

Bill Number:                      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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