H 3712 Session 107 (1987-1988)
H 3712 General Bill, By T.W. Edwards, M.D. Burriss, Carnell, W.N. Cork, Martin,
F.E. McBride, J.T. Petty, Phillips, L.L. Taylor, Washington, Wilkins and
D.E. Winstead
Similar(S 1240)
A Bill to amend Section 12-37-220, Code of Laws of South Carolina, 1976,
relating to property tax exemptions, so as to provide that all new corporate
headquarters, corporate office facilities, distribution establishments, and
all additions to existing headquarters, office facilities, or distribution
establishments in South Carolina, if the cost is fifty thousand dollars or
more and seventy-five or more new full-time jobs are created in South
Carolina, qualify for the five year abatement from ordinary county property
taxes of new manufacturing establishments; to establish within the office of
the Governor an Economic Development Incentive Fund from which payments of up
to five hundred thousand dollars may be made directly to qualified
corporations or companies to offset the costs associated with establishing the
corporation's or companies' headquarters in this State; and to provide that
qualifying corporations establishing a headquarters or administrative
operation in this State, or adding to an existing headquarters or operation,
are allowed a corporate income tax credit equal to twenty percent of certain
development or construction costs.
02/09/88 House Introduced and read first time HJ-991
02/09/88 House Referred to Committee on Ways and Means HJ-992
03/29/88 House Committee report: Majority favorable with amend.,
minority unfavorable Ways and Means HJ-2358
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