S*0687(Rat #0359, Act #0331 of 1980)  General Bill, By H. Rubin, W.W. Doar and 
J.H. Waller

Similar(H 3221)
 A Bill to amend Section 12-37-250, Code of Laws of South Carolina, 1976, as
 amended, relating to homestead exemption for taxpayers sixty-five or over,
 totally and permanently disabled or legally blind, so as to provide that the
 exemption shall apply to persons who own a dwelling in part in fee or in part
 for life when such persons satisfy the requirements for such exemption.

   12/06/79  Senate Prefiled
   12/06/79  Senate Referred to Committee on Finance
   01/09/80  Senate Introduced and read first time SJ-16
   01/09/80  Senate Referred to Committee on Finance SJ-16
   01/16/80  Senate Committee report: Favorable Finance SJ-12
   01/17/80  Senate Read second time SJ-13
   01/22/80  Senate Read third time and sent to House SJ-16
   01/23/80  House  Introduced and read first time HJ-384
   01/23/80  House  Referred to Committee on Ways and Means HJ-384
   03/04/80  House  Committee report: Favorable Ways and Means HJ-1226
   03/05/80  House  Read second time HJ-1251
   03/06/80  House  Read third time and enrolled HJ-1290
   03/18/80  Senate Ratified R 359 SJ-7
   03/20/80         Signed By Governor
   03/20/80         Effective date TAX YR BEG. 01/01/81 & THEREAFTER
   03/20/80         Act No. 331
   03/28/80         Copies available

AN ACT TO AMEND SECTION 12-37-250, CODE OF LAWS OF SOUTH CAROLINA, 1976, AS AMENDED, RELATING TO HOMESTEAD EXEMPTION FOR TAXPAYERS SIXTY-FIVE OR OVER, TOTALLY AND PERMANENTLY DISABLED OR LEGALLY BLIND, SO AS TO PROVIDE THAT THE EXEMPTION SHALL APPLY TO PERSONS WHO OWN A DWELLING IN PART IN FEE OR IN PART FOR LIFE WHEN SUCH PERSONS SATISFY THE REQUIREMENTS FOR SUCH EXEMPTION.

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

Exemption to apply if ownership part in fee and part for life

Section 1. Section 12-37-250 of the 1976 Code, as last amended by Act 199 of 1979, is further amended by adding at the end:

"The homestead tax exemption shall be granted in the amount herein provided to those persons who own a dwelling in part in fee or in part for life when such persons satisfy the other conditions of the exemption. The amount of the exemption shall be determined by multiplying the percentage of the fee or life estate owned by such person to the full exemption. The exemption shall not exceed the value of the interest owned by such person. For purposes of the exemption, each owner of a part of the fee or life estate shall be deemed to own equal interest in the homestead."

Time effective

Section 2. This act upon approval by the Governor shall be effective for the tax year beginning January 1, 1980, and each year thereafter.