Current Status Bill Number:3827 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19970403 Primary Sponsor:Harrell All Sponsors:Harrell, R. Smith, Whatley, H. Brown, Allison and Limehouse Drafted Document Number:dka\4211mm.97 Companion Bill Number:329 Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Property tax, lease purchase or financing agreement, constitutional debt limits; Bonds or Notes, State Government
Body Date Action Description Com Leg Involved
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House 19970403 Introduced, read first time, 30 HWM
referred to Committee
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TO AMEND SECTION 11-27-110, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO LEASE PURCHASE OR FINANCING AGREEMENTS SUBJECT TO CONSTITUTIONAL DEBT LIMITS, SO AS TO EXEMPT FROM THE CONSTITUTIONAL DEBT LIMITATION REVENUE DERIVED BY GOVERNMENTAL ENTITIES FROM ACTIVITY OTHER THAN THE EXERCISE OF THE POWER OF AD VALOREM TAXATION.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 11-27-110(A)(6) of the 1976 Code, as added by Act 55 of 1995, is amended to read:
"(6) 'governmental enterprise' means any activity undertaken by a governmental entity which derives revenues from or because of the activity on a basis other than the exercise of the power of ad valorem taxation by that governmental entity;"
SECTION 2. This act takes effect upon approval by the Governor.