South Carolina General Assembly
122nd Session, 2017-2018

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Indicates New Matter

H. 3867

STATUS INFORMATION

General Bill
Sponsors: Reps. Herbkersman, Pitts, Hayes, Anthony and Cobb-Hunter
Document Path: l:\council\bills\bbm\9603dg17.docx

Introduced in the House on March 1, 2017
Currently residing in the House Committee on Ways and Means

Summary: Property tax exemptions

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
    3/1/2017  House   Introduced and read first time (House Journal-page 4)
    3/1/2017  House   Referred to Committee on Ways and Means 
                        (House Journal-page 4)
    3/2/2017  House   Member(s) request name added as sponsor: Cobb-Hunter

View the latest legislative information at the website

VERSIONS OF THIS BILL

3/1/2017

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

A BILL

TO AMEND SECTION 12-37-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO EXEMPTIONS FROM PROPERTY TAX, SO AS TO EXEMPT ALL PROPERTY DEVOTED TO HOUSING LOW INCOME RESIDENTS IF THE PROPERTY IS OWNED BY AN INSTRUMENTALITY OF A NONPROFIT HOUSING CORPORATION.

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

SECTION    1.    Section 12-37-220(B)(11)(e) of the 1976 Code is amended to read:

"(e)    all property of nonprofit housing corporations or solely-owned instrumentalities of these corporations which is devoted to providing housing to low or very low income residents. A nonprofit housing corporation must satisfy the safe harbor provisions of Revenue Procedure 96-32 issued by the Internal Revenue Service to qualify for this exemption to apply. For purposes of this subitem, 'instrumentalities' means partnerships, limited liability companies, or other corporations of which the nonprofit housing corporation is a partner, member, or shareholder;"

SECTION    2.    This act takes effect upon approval by the Governor and first applies to property tax years beginning after 2016.

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This web page was last updated on March 3, 2017 at 12:40 PM