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Current Status Bill Number:View additional legislative information at the LPITS web site.4484 Type of Legislation:Joint Resolution JR Introducing Body:House Introduced Date:20020110 Primary Sponsor:Sheheen All Sponsors:Sheheen, Merrill, Lourie, G.M. Smith, Bowers Drafted Document Number:l:\council\bills\bbm\10610htc02.doc Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Commission to Review Taxation and Public Finance in South Carolina established History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ House 20020508 Co-Sponsor added (Rule 5.2) by Rep. Bowers House 20020110 Introduced, read first time, 30 HWM referred to Committee Versions of This Bill
TO ESTABLISH THE COMMISSION TO REVIEW TAXATION AND PUBLIC FINANCE IN SOUTH CAROLINA, PROVIDE FOR ITS MEMBERSHIP, AUTHORITY, AND DUTIES, AND TO REQUIRE IT TO MAKE A REPORT AND RECOMMENDATIONS TO THE GOVERNOR AND GENERAL ASSEMBLY NO LATER THAN ONE YEAR AFTER BEGINNING FULL OPERATION, AFTER WHICH THE COMMISSION IS DISSOLVED.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. (A) There is established the Commission to Review Taxation and Public Finance in South Carolina (commission). The commission consists of twelve members selected as follows:
(1) three members appointed by the Governor, one of whom must be designated to serve as chairman;
(2) three members of the House of Representatives appointed by the Speaker of the House;
(3) three members of the Senate appointed by the President Pro Tempore of the Senate; and
(4) three additional members selected by the unanimous agreement of the members provided in items (1), (2), and (3). These three members must have demonstrated expertise in taxation or finance, or both, and
(a) one must be a representative of county or municipal government;
(b) one must be a member of the faculty or staff of an institution of higher education in this State; and
(c) one must a representative of the business community.
Members shall serve without compensation, but may receive that mileage, subsistence, and per diem allowed by law for members of state boards, committees, and commissions to be paid from approved accounts of their appointing authority. Expenses incurred by the three members selected by the larger commission must be paid from approved accounts appropriated to the Office of the Governor. Vacancies in the commission must be filled by appointment or selection, as applicable, in the manner of original appointment or selection. Until the three members selected by the commission are selected and qualify, a quorum of the commission is deemed to be five members. No business other than that necessary to establish the commission and select the additional members may be conducted until all twelve members have been appointed or selected and qualify. Staff and administrative support for the commission must be provided by the Legislative Audit Council, State Budget and Control Board, and Department of Revenue in the manner the commission determines appropriate.
(B) The commission may hold public hearings, conduct research, receive the testimony of experts, review, for purposes of comparison, the methods of taxation and public finance in other states and jurisdictions, and take other actions it determines appropriate for the completion of its assigned task. At a minimum, the commission shall inquire into and make recommendations with respect to:
(1) abolition of the residential property tax as a funding source for public education in South Carolina;
(2) equity of existing tax structure on individuals and corporations in South Carolina;
(3) creation of a state-financed system of public education that provides a per pupil expenditure equal to that of the highest current level, adjusted for inflation, of combined state and local support with a five-year phase-in period and no district may have a lower per pupil allocation during the phase-in period than the combined allocation the year before the implementation of such a plan;
(4) allocation of nonresidential property taxes and vehicle taxes into the general fund of the State for the purposes of financing public education;
(5) feasibility of financing local government through residential property taxes, local option sales tax, and other forms of revenue not now being utilized and the elimination of the Local Government Fund;
(6) modification of existing sales tax exemptions and limitations;
(7) feasibility of alternative sources of potential state revenue for the general fund and for the purposes of financing public education;
(8) documentation of administrative cost savings from simplifications of any proposed tax structure;
(9) appropriate utilization and application of fees in lieu of taxes for economic development purposes;
(10) documentation of administrative cost savings from simplifications of any proposed tax structure.
Recommendations proposed by the commission must not result in combined net revenue increases for state and local governments and school districts beyond any amount attributable to that revenue growth created by increased economic activity.
(C) The commission may publish interim reports and recommendations as appropriate and it shall make a final report with recommendations no later than one year after the date of its first meeting with the full membership provided in subsection (A) of this joint resolution. All interim reports and recommendations and the final report and recommendations must be submitted to the Governor and the General Assembly and published. Upon submission of the final report and recommendations, the commission is dissolved.
SECTION 2. This joint resolution takes effect upon approval by the Governor.
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