Bill Text: SC H3511 | 2023-2024 | 125th General Assembly | Introduced

South Carolina House Bill 3511

Introduced

Bill Title: Property tax

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2023-01-10 - Referred to Committee on Ways and Means [H3511 Detail]

Download: South_Carolina-2023-H3511-Introduced.html

2023-2024 Bill 3511 Text of Previous Version (Dec. 15, 2022) - South Carolina Legislature Online

South Carolina General Assembly
125th Session, 2023-2024

Bill 3511

Indicates Matter Stricken
Indicates New Matter

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A bill

to amend the South Carolina Code of Laws by adding Section 4-1-190 so as to require a county to consult with other affected taxing entities before entering into a fee in lieu of property taxes agreement, to require the county to issue an annual report detailing distributions, and to require the state treasurer to withhold certain funds from the county if the property distributions are not disbursed.

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

SECTION 1.Chapter 1, Title 4 of the S.C. Code is amended by adding:

Section 4-1-190.(A)Before a county enters into a fee in lieu of property taxes agreement, the county must consult with the other affected taxing entities regarding the effects of the agreement on the other entities. The county must provide projections for the amount of revenue expected to be distributed to each entity each year from the agreement, and the method by which the projections were calculated.

(B)Each year a fee in lieu of property taxes agreement is in effect, the county shall provide a report to the other affected taxing entities of the total amount of revenue generated from the agreement, the amount of revenue distributed to each taxing entity, and the calculation used to determine each distribution.

(C)In any year in which the county fails to distribute an affected taxing entity its correct distribution as provided by law, the Office of the State Treasurer shall withhold the county's State Aid to Subdivisions Act distribution until the correct amount is distributed.

SECTION 2.This act takes effect upon approval by the Governor.

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This web page was last updated on December 15, 2022 at 03:06 PM