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TO AMEND ACT 378 OF 2004, RELATING TO THE LEXINGTON COUNTY SCHOOL DISTRICT PROPERTY TAX RELIEF ACT, SO AS TO REVISE THE DATE WHEN THE ACT EXPIRES AND WHEN THE SPECIAL ONE PERCENT SALES AND USE TAX IF IMPLEMENTED, SHALL NO LONGER BE AUTHORIZED.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 10 of Act 378 of 2004 is amended to read:
SECTION 10. "The provisions of this act also expire and the special one percent sales and use tax if implemented shall no longer be authorized as of the first day of the year after the year in which the State of South Carolina through the imposition of a statewide increase in the sales and use tax above five percent provides or will provide directly or indirectly school millage ad valorem property tax reductions to the taxpayers of the county as determined by the Department of Revenue at least equal to the total tax credit relief provided to such taxpayers by the provisions of this act."
SECTION 2. This act takes effect upon approval by the Governor.
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