S 0422 General Bill, By Holland
Similar (S 0446, H 3483)
Summary: Sales tax exemptions, building materials by nonprofit entity, single family houses to buyers; Construction, Taxation
    A BILL TO AMEND SECTIONS 12-36-90, 12-36-110, AND 12-36-2120, ALL AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEFINITIONS AND EXEMPTIONS FOR PURPOSES OF THE SOUTH CAROLINA SALES AND USE TAX ACT, SO AS TO EXEMPT BUILDING MATERIALS PURCHASED BY A NONPROFIT TAX EXEMPT ENTITY EXCLUSIVELY ORGANIZED AND OPERATED TO BUILD AND SELL SINGLE FAMILY HOUSES TO SELECTED BUYERS TO PROMOTE HOME OWNERSHIP AND TO EXCLUDE FROM THE DEFINITIONS OF "GROSS PROCEEDS OF SALE" AND "RETAIL SALE" THESE ITEMS WHEN WITHDRAWN FROM INVENTORY AND DONATED TO AN ENTITY TO WHICH THE ITEMS COULD BE SOLD SALES TAX EXEMPT.
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01/28/99	Senate	Introduced and read first time SJ-3
01/28/99	Senate	Referred to Committee on Finance SJ-3