South Carolina § 12-28-2915 Disposition of taxes collected.

South Carolina Statutes

§ 12-28-2915 — Disposition of taxes collected.

South Carolina § 12-28-2915

Title 12TAXATION

Ch. 28MOTOR FUELS SUBJECT TO USER FEES

This text of South Carolina § 12-28-2915 (Disposition of taxes collected.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 12-28-2915 (2026).

Text

(A)Notwithstanding another provision of law, seven million dollars of the taxes collected pursuant to Article 1, Chapter 23, Title 12 must be placed in the account for economic development contained in Section 12-28-2910 for fiscal year 2005-2006, fourteen million dollars for fiscal year 2006-2007, and twenty million dollars for fiscal year 2007-2008 and for each succeeding fiscal year thereafter.

(B)Beginning in fiscal year 2007-2008, all taxes collected pursuant to Article 1, Chapter 23, Title 12 in excess of twenty million dollars must be credited to the Department of Transportation which shall:

(1)annually distribute fifty percent of the excess to the State Non-Federal Aid Highway Fund; and (2) make an annual contribution from nonstate tax sources in an amount equivalent to fifty pe

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(A) Notwithstanding another provision of law, seven million dollars of the taxes collected pursuant to Article 1, Chapter 23, Title 12 must be placed in the account for economic development contained in Section 12-28-2910 for fiscal year 2005-2006, fourteen million dollars for fiscal year 2006-2007, and twenty million dollars for fiscal year 2007-2008 and for each succeeding fiscal year thereafter. (B) Beginning in fiscal year 2007-2008, all taxes collected pursuant to Article 1, Chapter 23, Title 12 in excess of twenty million dollars must be credited to the Department of Transportation which shall: (1) annually distribute fifty percent of the excess to the State Non-Federal Aid Highway Fund; and (2) make an annual contribution from nonstate tax sources in an amount equivalent to fifty percent of the excess to the State Highway Account of the South Carolina State Transportation Infrastructure Bank.