South Carolina Statutes
§ 4-10-50 — Distribution of revenue set aside for the County/Municipal Revenue Fund.
(A)The revenue generated in a county area and set aside and allocated to the County/Municipal Revenue Fund must be distributed to the county and the municipalities in the county area as follows:
(1)fifty percent based upon the location of the sale;
(2)fifty percent based on population.
(B)The population of the county is the population of the county area, and the population of the municipalities is the population within the corporate boundaries of the municipalities in the county area.
(C)Revenue distributed to a county or municipality under this section may be used to provide an additional property tax credit in the manner provided in Section 4-10-40(B).
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South Carolina § 4-10-50 (Distribution of revenue set aside for the County/Municipal Revenue Fund.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1990 Act No. 317, SECTION 1, eff February 2, 1990; 1991 Act No. 168, SECTION 14, eff June 28, 1991. Effect of Amendment The 1991 amendment added subsection (C), providing for additional property tax credit from revenue distributed to a county or municipality under this section.
Nearby Sections
15
§ 4-10-10
Definitions.§ 4-10-100
Commencement of local sales and use tax.§ 4-10-1030
Imposition and termination of the tax.§ 4-10-1040
Administration and collection of the tax.§ 4-10-1050
Distributions to counties; confidentiality.§ 4-10-25
Construction contracts; application.§ 4-10-300
Short title.§ 4-10-310
Imposition of tax.§ 4-10-320
Commission creation; composition.