State of South Dakota
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EIGHTY-SECOND SESSION LEGISLATIVE ASSEMBLY, 2007 |
277N0577 |
SENATE STATE AFFAIRS COMMITTEE ENGROSSED
NO.
SB 104
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02/09/2007
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Introduced by:
Senators Knudson, Abdallah, Albers, Dempster, Duenwald, Gant, Garnos,
Gray, Hansen (Tom), Hauge, Hunhoff, Lintz, McCracken, McNenny, Olson
(Ed), and Smidt (Orville) and Representatives Rhoden, Boomgarden,
Brunner, Buckingham, Carson, Cutler, Davis, Deadrick, DeVries, Dreyer,
Dykstra, Faehn, Gilson, Hackl, Hanks, Haverly, Heineman, Hills, Howie,
Hunt, Jerke, Juhnke, Kirkeby, Koistinen, Krebs, Lust, McLaughlin, Nelson,
Noem, Novstrup (Al), Novstrup (David), Olson (Betty), Olson (Russell),
Olson (Ryan), Pederson (Gordon), Peters, Pitts, Putnam, Rausch, Rave,
Rounds, Steele, Tidemann, Turbiville, Van Etten, Vanneman, Vehle, Weems,
Wick, and Willadsen
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FOR AN ACT ENTITLED, An Act to
create and provide for the education enhancement
tobacco tax fund and the health care tobacco tax fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That chapter 4-5 be amended by adding thereto a NEW SECTION to read as follows:
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That chapter 4-5 be amended by adding thereto a NEW SECTION to read as follows:
There is hereby created in the state treasury the education enhancement tobacco tax fund.
All moneys in the education enhancement tobacco tax fund are subject to appropriation by the
Legislature through the General Appropriations Act or special appropriations acts for education
enhancement programs. Any interest earned shall be credited to the fund.
Section 2. That chapter 4-5 be amended by adding thereto a NEW SECTION to read as
Section 2. That chapter 4-5 be amended by adding thereto a NEW SECTION to read as
follows:
There is hereby created in the state treasury the health care tobacco tax fund. All moneys in
the health care tobacco tax fund are subject to appropriation by the Legislature through the
General Appropriations Act or special appropriations acts for health care related programs. Any
interest earned shall be credited to the fund.
Section 3. That § 10-50-52 be amended to read as follows:
10-50-52. The first thirty million dollars in revenue collected annually pursuant to this chapter shall be deposited in the general fund. All revenue in excess of thirty million dollars collected annually shall be deposited in the tobacco prevention and reduction trust fund. Five million dollars of the revenue deposited annually in the tobacco prevention and reduction trust fund pursuant to this section shall be used to implement the tobacco prevention and reduction program. Thirty-three percent of any revenue deposited in the tobacco prevention and reduction trust fund in excess of five million dollars shall be transferred to the property tax reduction fund. Thirty-three percent of any revenue deposited in the tobacco prevention and reduction trust fund in excess of five million dollars shall be transferred to the education enhancement
trust
tobacco
tax
fund. Thirty-four percent of any revenue deposited in the tobacco prevention and reduction
trust fund in excess of five million dollars shall be transferred to the health care
trust
tobacco
tax
fund.
Section 3. That § 10-50-52 be amended to read as follows:
10-50-52. The first thirty million dollars in revenue collected annually pursuant to this chapter shall be deposited in the general fund. All revenue in excess of thirty million dollars collected annually shall be deposited in the tobacco prevention and reduction trust fund. Five million dollars of the revenue deposited annually in the tobacco prevention and reduction trust fund pursuant to this section shall be used to implement the tobacco prevention and reduction program. Thirty-three percent of any revenue deposited in the tobacco prevention and reduction trust fund in excess of five million dollars shall be transferred to the property tax reduction fund. Thirty-three percent of any revenue deposited in the tobacco prevention and reduction trust fund in excess of five million dollars shall be transferred to the education enhancement