Bill > H4694

This joint resolution establishes a study committee to examine the impacts of Act 388 of 2006, which relates to property tax assessment and school district funding in South Carolina. The committee will be composed of ten members, with equal representation from the Senate and House of Representatives, including members appointed by key leadership positions such as the President of the Senate, Speaker of the House, and various committee chairs and party leaders. The committee's specific task is to review the effects of Act 388 on properties assessed at six percent and other property classes, as well as analyze the consequences for school district funding and property taxpayers. The committee is required to produce a comprehensive report with findings and recommendations to the General Assembly by July 1, 2027, after which the study committee will be dissolved. The resolution will take effect upon approval by the Governor, providing a structured approach to evaluating the long-term implications of this significant property tax legislation.

Budget and Finance

https://www.scstatehouse.gov/billsearch.php?billnumbers=4694&session=126&summary=B