South Carolina General Assembly
118th Session, 2009-2010

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Indicates New Matter

H. 4301

STATUS INFORMATION

General Bill
Sponsors: Reps. Harvin, Kennedy, Hart and Hosey
Document Path: l:\council\bills\nbd\20781sd10.docx

Introduced in the House on January 13, 2010
Currently residing in the House Committee on Ways and Means

Summary: Tax increment financing district

HISTORY OF LEGISLATIVE ACTIONS 

     Date      Body   Action Description with journal page number
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   1/13/2010  House   Introduced and read first time HJ-15
   1/13/2010  House   Referred to Committee on Ways and Means HJ-16

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

1/13/2010

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 31-6-65 SO AS TO PROVIDE THAT BEFORE A MUNICIPAL GOVERNING BODY MAY ESTABLISH A TAX INCREMENT FINANCING DISTRICT, THE QUALIFIED ELECTORS OF THAT MUNICIPALITY MUST FIRST APPROVE OF ITS ESTABLISHMENT IN A REFERENDUM CALLED FOR THIS PURPOSE BY THE MUNICIPAL GOVERNING BODY; AND BY ADDING SECTION 31-7-65 SO AS TO PROVIDE THAT BEFORE A COUNTY GOVERNING BODY MAY ESTABLISH A TAX INCREMENT FINANCING DISTRICT, THE QUALIFIED ELECTORS OF THAT COUNTY MUST FIRST APPROVE OF ITS ESTABLISHMENT IN A REFERENDUM CALLED FOR THIS PURPOSE BY THE COUNTY GOVERNING BODY.

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

SECTION    1.    Chapter 6, Title 31 of the 1976 Code is amended by adding:

"Section 31-6-65.    Before a municipal governing body may establish a tax increment financing district in the manner permitted by this chapter, the qualified electors of that municipality must first approve of its establishment in a referendum called for this purpose by the municipal governing body. If the results of the referendum are unfavorable, no subsequent referendum for that district or a substantially similar district may be held again for a period of two years thereafter."

SECTION    2.    Chapter 7, Title 31 of the 1976 Code is amended by adding:

"Section 31-7-65.    Before a county governing body may establish a tax increment financing district in the manner permitted by this chapter, the qualified electors of that county must first approve of its establishment in a referendum called for this purpose by the county governing body. If the results of the referendum are unfavorable, no subsequent referendum for that district or a substantially similar district may be held again for a period of two years thereafter."

SECTION    3.    This act takes effect upon approval by the Governor.

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