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Session 117 - (2007-2008)Printer Friendly
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H*3008 (Rat #0368, Act #0352 of 2008) General Bill, By Ballentine, Haskins, Cotty and Lowe
Summary: Charitable organizations
AN ACT TO AMEND SECTION 12-37-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO EXEMPT REAL PROPERTY OWNED BY A CHARITABLE ORGANIZATION WHICH IS NOT USED FOR THE ORGANIZATION'S MEETINGS OR THE ORGANIZATION'S TAX EXEMPT PURPOSES BUT WHICH IS HELD FOR FUTURE USE BY THE ORGANIZATION IN PURSUIT OF ITS EXEMPT PURPOSES OR WHICH IS HELD BY THE ORGANIZATION FOR INVESTMENT IN PURSUIT OF THE ORGANIZATION'S EXEMPT PURPOSES IF THIS REAL PROPERTY WHILE HELD IS NOT RENTED OR LEASED FOR A PURPOSE UNRELATED TO THE ORGANIZATION'S EXEMPT PURPOSES AND THE USE OF THE REAL PROPERTY DOES NOT INURE TO THE BENEFIT OF ANY PRIVATE STOCKHOLDER OR INDIVIDUAL, TO LIMIT THIS EXEMPTION TO THREE YEARS, AND PROVIDE FOR RECAPTURE OF AMOUNTS EXEMPTED IF THE PROPERTY IS TRANSFERRED; TO AMEND SECTION 12-6-3310, AS AMENDED, RELATING TO THE APPLICATION OF TAX CREDITS, SO AS TO PROVIDE FOR THE APPLICATION OF TAX CREDITS WHEN EARNED BY CERTAIN LIMITED LIABILITY COMPANIES; TO AMEND SECTION 12-6-3410, AS AMENDED, RELATING TO THE CORPORATE HEADQUARTERS INCOME TAX CREDIT, SO AS TO REVISE REQUIREMENTS WITH RESPECT TO THIS CREDIT; TO AMEND SECTION 12-6-3520, AS AMENDED, RELATING TO THE INCOME CREDIT FOR HABITAT MANAGEMENT, SO AS TO PROVIDE FOR THE APPLICATION OF THIS CREDIT FOR PASS THROUGH ENTITIES; TO AMEND SECTION 12-10-30, AS AMENDED, RELATING TO DEFINITIONS FOR PURPOSES OF THE ENTERPRISE ZONE ACT OF 1995, SO AS TO ADD A DEFINITION FOR A "SIGNIFICANT BUSINESS"; TO AMEND SECTION 12-10-80, AS AMENDED, RELATING TO JOB DEVELOPMENT CREDITS, SO AS TO REVISE ELIGIBILITY FOR WAIVER LIMITS OF A SIGNIFICANT BUSINESS AND REVISE OTHER ELIGIBILITY REQUIREMENTS FOR THIS CREDIT; AND TO AMEND SECTIONS 12-44-30, 4-29-67, AND 4-12-30, ALL AS AMENDED, RELATING RESPECTIVELY TO DEFINITIONS FOR PURPOSES OF THE FEE IN LIEU OF TAX SIMPLIFICATION ACT AND RELATING TO FEES IN LIEU OF TAXES, SO AS TO PROVIDE FOR THAT INVESTMENT ATTRIBUTED TO A SPONSOR. - ratified title
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Summary: Charitable organizations
AN ACT TO AMEND SECTION 12-37-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO EXEMPT REAL PROPERTY OWNED BY A CHARITABLE ORGANIZATION WHICH IS NOT USED FOR THE ORGANIZATION'S MEETINGS OR THE ORGANIZATION'S TAX EXEMPT PURPOSES BUT WHICH IS HELD FOR FUTURE USE BY THE ORGANIZATION IN PURSUIT OF ITS EXEMPT PURPOSES OR WHICH IS HELD BY THE ORGANIZATION FOR INVESTMENT IN PURSUIT OF THE ORGANIZATION'S EXEMPT PURPOSES IF THIS REAL PROPERTY WHILE HELD IS NOT RENTED OR LEASED FOR A PURPOSE UNRELATED TO THE ORGANIZATION'S EXEMPT PURPOSES AND THE USE OF THE REAL PROPERTY DOES NOT INURE TO THE BENEFIT OF ANY PRIVATE STOCKHOLDER OR INDIVIDUAL, TO LIMIT THIS EXEMPTION TO THREE YEARS, AND PROVIDE FOR RECAPTURE OF AMOUNTS EXEMPTED IF THE PROPERTY IS TRANSFERRED; TO AMEND SECTION 12-6-3310, AS AMENDED, RELATING TO THE APPLICATION OF TAX CREDITS, SO AS TO PROVIDE FOR THE APPLICATION OF TAX CREDITS WHEN EARNED BY CERTAIN LIMITED LIABILITY COMPANIES; TO AMEND SECTION 12-6-3410, AS AMENDED, RELATING TO THE CORPORATE HEADQUARTERS INCOME TAX CREDIT, SO AS TO REVISE REQUIREMENTS WITH RESPECT TO THIS CREDIT; TO AMEND SECTION 12-6-3520, AS AMENDED, RELATING TO THE INCOME CREDIT FOR HABITAT MANAGEMENT, SO AS TO PROVIDE FOR THE APPLICATION OF THIS CREDIT FOR PASS THROUGH ENTITIES; TO AMEND SECTION 12-10-30, AS AMENDED, RELATING TO DEFINITIONS FOR PURPOSES OF THE ENTERPRISE ZONE ACT OF 1995, SO AS TO ADD A DEFINITION FOR A "SIGNIFICANT BUSINESS"; TO AMEND SECTION 12-10-80, AS AMENDED, RELATING TO JOB DEVELOPMENT CREDITS, SO AS TO REVISE ELIGIBILITY FOR WAIVER LIMITS OF A SIGNIFICANT BUSINESS AND REVISE OTHER ELIGIBILITY REQUIREMENTS FOR THIS CREDIT; AND TO AMEND SECTIONS 12-44-30, 4-29-67, AND 4-12-30, ALL AS AMENDED, RELATING RESPECTIVELY TO DEFINITIONS FOR PURPOSES OF THE FEE IN LIEU OF TAX SIMPLIFICATION ACT AND RELATING TO FEES IN LIEU OF TAXES, SO AS TO PROVIDE FOR THAT INVESTMENT ATTRIBUTED TO A SPONSOR. - ratified title
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| 12/13/06 | House | Prefiled |
| 12/13/06 | House | Referred to Committee on Ways and Means |
| 01/09/07 | House | Introduced and read first time HJ-20 |
| 01/09/07 | House | Referred to Committee on Ways and Means HJ-20 |
| 01/11/07 | House | Member(s) request name added as sponsor: Cotty |
| 05/15/07 | House | Committee report: Favorable with amendment Ways and Means HJ-5 |
| 05/16/07 | House | Member(s) request name added as sponsor: Lowe |
| 05/16/07 | Scrivener's error corrected | |
| 05/17/07 | House | Amended HJ-20 |
| 05/17/07 | House | Read second time HJ-30 |
| 05/17/07 | House | Unanimous consent for third reading on next legislative day HJ-30 |
| 05/18/07 | House | Read third time and sent to Senate HJ-1 |
| 05/18/07 | Scrivener's error corrected | |
| 05/22/07 | Senate | Introduced and read first time SJ-9 |
| 05/22/07 | Senate | Referred to Committee on Finance SJ-9 |
| 05/28/08 | Senate | Committee report: Favorable with amendment Finance SJ-13 |
| 05/29/08 | Senate | Committee Amendment Adopted SJ-62 |
| 05/29/08 | Senate | Read second time SJ-62 |
| 06/03/08 | Senate | Read third time and returned to House with amendments SJ-23 |
| 06/04/08 | House | Senate amendment amended HJ-37 |
| 06/04/08 | House | Returned to Senate with amendments HJ-37 |
| 06/04/08 | Senate | Concurred in House amendment and enrolled SJ-307 |
| 06/05/08 | Ratified R 368 | |
| 06/12/08 | Became law without Governor's signature | |
| 06/27/08 | Copies available | |
| 06/27/08 | Effective date 06/12/08 | |
| 07/11/08 | Act No. 352 |