There is levied in assessment on all primary forest products harvested from lands within the State at rates established in § 48-30-60 and the proceeds of such assessment shall be deposited in the forest renewal fund as provided in § 48-28-100.

Collection of the assessment shall be suspended in any fiscal year in which the General Assembly fails to make general fund appropriations to the forest renewal fund.

Terms Used In South Carolina Code 48-30-40

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.

Collection of the assessment shall be suspended in any fiscal year in which there is carried forward from previous years a balance of unobligated funds in the forest renewal fund greater than four times the amount appropriated from the general fund for that fiscal year.

If the assessment is suspended because of either paragraph 2 or 3 of this section, the suspension shall cease when the condition causing the suspension no longer exists.

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