South Carolina General Assembly121st Session, 2015-2016

H. 3746

STATUS INFORMATION

General BillSponsors: Reps. King, Henegan and GilliardDocument Path: l:\council\bills\bbm\9220dg15.docx

Introduced in the House on March 3, 2015Currently residing in the House Committee on Ways and Means

Summary: Banking overdraft fees

HISTORY OF LEGISLATIVE ACTIONS

Date Body Action Description with journal page number 3/3/2015 House Introduced and read first time (House Journal - page 16 )3/3/2015 House Referred to Committee on Ways and Means (House Journal - page 16 )

View the latest legislative information at the website

VERSIONS OF THIS BILL

3/3/2015

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A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 34-3-120 SO AS TO REQUIRE THAT A BANK CHARGING AN OVERDRAFT FEE OR A FEE FOR INSUFFICIENT FUNDS TO REMIT THE FEES TO THE STATE TREASURER TO BE CREDITED TO THE STATE HIGHWAY FUND.

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

SECTION 1. Article 1, Chapter 3, Title 34 of the 1976 Code is amended by adding:

“Section 34-3-120. Notwithstanding any other provision of law, if any bank, banking association, or trust company chartered and engaged in the banking business under the laws of this State charges an overdraft fee or a fee for insufficient funds, then the institution must remit the fees to the State Treasurer to be credited to the State Highway Fund. The fees must be remitted at the same time as the institution files its bank tax return.”

SECTION 2. This act takes effect January 1, 2016.----XX----

[3746] 1

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