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Current Status Bill Number:View additional legislative information at the LPITS web site.3260 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:20010111 Primary Sponsor:McGee All Sponsors:McGee, Barfield, Barrett, Bowers, Carnell, Coates, Parks, Sandifer, W.D. Smith, Taylor and Wilder Drafted Document Number:l:\council\bills\bbm\9733htc01.doc Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Sales tax exemption, building materials for single family houses to promote home ownership; Property, Taxation History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ House 20010111 Introduced, read first time, 30 HWM referred to Committee Versions of This Bill
TO AMEND SECTIONS 12-36-90, 12-36-110, AND 12-36-2120, 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 IN BUILDING AND SELLING 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HOME OWNERSHIP AND TO EXCLUDE FROM THE DEFINITIONS OF "GROSS PROCEEDS OF SALE" AND "RETAIL SALE" THESE ITEMS WHEN WITHDRAWN FROM INVENTORY AND DONATED TO AN ENTITY TO WHICH THE ITEMS COULD BE SOLD SALES TAX EXEMPT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-36-90(1)(c) of the 1976 Code is amended by adding at the end:
"(vi) withdrawal of tangible personal property for donation to an entity when a sale of the property to the entity would be exempt from tax pursuant to Section 12-36-2120( )."
SECTION 2. Section 12-36-110(1)(c) of the 1976 Code is amended by adding at the end:
"(vi) withdrawal of tangible personal property for donation to an entity when a sale of the property to the entity would be exempt from tax pursuant to Section 12-36-2120( )."
SECTION 3. Section 12-36-2120 of the 1976 Code is amended by adding an appropriately numbered item at the end to read:
"( ) Building materials used in residential housing construction when purchased by a private nonprofit entity exempt from federal income tax pursuant to Section 501(c)(3) of the Internal Revenue Code of 1986 as defined in Section 12-6-40(A), organized and operated exclusively to promote home ownership by means of building and selling single-family residences to buyers it selects who, as one requirement for purchasing such a house, must perform a specified minimum number of hours of volunteer labor for the nonprofit entity in its program of home ownership promotion."
SECTION 4. This act takes effect July 1, 2001. In the publication of the annual cumulative supplement to the South Carolina Code of Laws, the Code Commissioner shall complete the internal cross-references in Sections 12-36-90 and 12-36-110 of the 1976 Code, as amended by this act, by inserting the item number of the item added in Section 12-36-2120 of the 1976 Code by this act.
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