A bill

 

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 4-1-170, RELATING TO JOINT COUNTY INDUSTRIAL OR BUSINESS PARKS, SO AS TO REQUIRE THAT EACH AFFECTED SCHOOL DISTRICT MUST RECEIVE THE SAME PORTION OF THE REVENUE AS THE SCHOOL DISTRICT WOULD HAVE RECEIVED IN PROPERTY TAXES, and to provide that other taxing entities also must receive the same portion of the revenue if the taxing entity does not consent to the creation of the joint park.

 

Be it enacted by the General Assembly of the State of South Carolina:

 

SECTION 1.  Section 4-1-170(A)(3) of the S.C. Code is amended to read:

 

    (3) specify the manner in which revenue must be distributed to each of the taxing entities within each of the participating counties. However, each affected school district must receive the same portion of the revenue as the school district would have received in property taxes had the joint park not been created.

 

SECTION 2.  Section 4-1-170(C) of the S.C. Code is amended to read:

 

    (C) If the industrial or business park encompasses all or a portion of a municipalityanother taxing entity, the counties must obtain the consent of the municipality each affected taxing entity prior to the creation of the multi-county industrial park if the taxing entity would receive a different portion of the property taxes than had the joint park not been created.  If the county creates joint park without the consent of a taxing entity, then each taxing entity that does not consent must receive the same portion of the revenue as the taxing entity would have received in property taxes had the joint park not been created.

 

SECTION 3.  This act takes effect upon approval by the Governor.

----XX----