Reference is to Printer's Date 4/6/11-H.
Amend the bill, as and if amended, by inserting a penultimate SECTION approximately numbered to read:
/ SECTION __. Article 25, Chapter 36, Title 12 of the 1976 Code is amended by adding:
"Section 12-36-2691.
(A) Notwithstanding another provision
of this chapter, owning or utilizing a distribution facility
within South Carolina is not considered in determining whether
the person has a physical presence in South Carolina sufficient
to establish nexus with South Carolina for sales and use tax
purposes.
(B)(1) For purposes of
this section, 'distribution facility' means an establishment
where only shipments of tangible personal property are processed
for delivery to customers and no retail sales are made. The
definition of 'distribution facility' provided in Section
12-6-3360(M)(8) for purposes of the targeted jobs tax credit and
its provisions allowing limited retail sales at such a facility
specifically do not apply with respect to a 'distribution
facility' as defined for purposes of this section.
(C) This section only
applies to a taxpayer that:
(1)
places a distribution facility in service after December
31, 2010, and before July 1, 2012;
(2)
makes, or causes to be made through a third party, a
capital investment of at least ninety million dollars after
December 31, 2010, and before July 1, 2012;
(3)
creates at least one thousand two hundred forty-nine
full-time jobs which include a comprehensive health plan for
those employees, after December 31, 2010, and before January 1,
2013. For purposes of this item, 'full-time' and 'new job' have
the same meaning as provided in Section 12-6-3360; and
(4)
after meeting the requirements of item (3), maintains at
least one thousand jobs until January 1, 2016.
(D) This section no
longer applies on the earlier of:
(1)
January 1, 2016;
(2)
when the company fails to meet the requirements provided
in subsection (C) of this section; or
(3)
the effective date of a law enacted by the United States
Congress that allows a state to require that its sales tax be
collected and remitted even if the taxpayer does not have
substantial nexus with that state." /
Renumber sections to conform.
Amend title to conform.