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Indicates Matter Stricken
Indicates New Matter
Indicates Matter Stricken
Indicates New Matter
COMMITTEE AMENDMENT ADOPTED AND AMENDED
May 31, 2006
H. 4419
Introduced by Reps. Townsend, Cooper, White, Thompson, Agnew and Martin
S. Printed 5/31/06--S.
Read the first time January 18, 2006.
TO AMEND SECTION 12-45-430, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE ISSUANCE OF TAX RECEIPTS BY A COUNTY TREASURER UPON FULL PAYMENT OF THE TAXES AND CHARGES DUE, SO AS TO PROVIDE THAT A COUNTY TREASURER MAY ACCEPT A LESSER AMOUNT THAN THE ORIGINAL TAX BILL TOGETHER WITH ANY APPLICABLE PENALTIES, COSTS, AND CHARGES WHENEVER A BANKRUPTCY PROCEEDING AUTHORIZES A LESSER AMOUNT TO BE PAID, AND TO PROVIDE THAT THE AUDITOR MAY PREPARE A TAX BILL TO AUTHORIZE NEGOTIATED TAXES AS A RESULT OF A BANKRUPTCY.
Amend Title To Conform
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-45-430 of the 1976 Code, as added by Act 145 of 2005, is amended to read:
"Section 12-45-430. A county treasurer may not issue a tax receipt to a taxpayer unless the taxes, any applicable penalties and costs, and all other charges included on the tax bill have been paid in full. However, a county treasurer may accept a lesser amount than the original tax bill together with any applicable penalties, costs, and charges whenever a bankruptcy proceeding authorizes a lesser amount to be paid. The auditor, as authorized by county council, may prepare a tax bill to authorize negotiated taxes as a result of a bankruptcy."
SECTION 2. Section 12-6-3360(B)(5) of the 1976 Code, as last amended by Act 161 of 2005, is further amended by adding an appropriately lettered subitem at the end to read:
"( ) In a county in which one employer has lost at least 1,500 jobs in calendar year 2006, the credit allowed is three tiers higher than the credit for which the county would otherwise qualify. The three-tier-higher credit allowed by this subsection is allowed for taxable years beginning in 2007 and 2008. This subsection does not apply to a job created in a county eligible for a higher tier pursuant to another provision of this section."
SECTION 3. This act takes effect upon approval by the Governor.
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