S 0885 General Bill, By Moore
 A Bill to amend Section 12-43-220(d), as amended, Code of Laws of South
 Carolina, 1976, relating to the assessment of agricultural lands, so as to
 remove the requirement that local assessors be required to value all
 agricultural land at fair market value.

   04/16/91  Senate Introduced and read first time SJ-10
   04/16/91  Senate Referred to Committee on Finance SJ-10

A BILL

TO AMEND SECTION 12-43-220(d), AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE ASSESSMENT OF AGRICULTURAL LANDS, SO AS TO REMOVE THE REQUIREMENT THAT LOCAL ASSESSORS BE REQUIRED TO VALUE ALL AGRICULTURAL LAND AT FAIR MARKET VALUE.

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

SECTION 1. Section 12-43-220(d), as last amended by Act 558 of 1988, is further amended by adding:

"(5) Notwithstanding any other provision of law, agricultural use value determined by subsection (d) of Section 12-43-220 shall constitute value for assessment purposes, and assessors shall not be required to make a determination of fair market value until the use of the property is changed. At the time of change, the assessor shall determine the value as mandated by item (d)(4) of Section 12-43-220. Requirements to reassess and equalize property values within a county area must not contain provisions that the fair market value of agricultural lands be determined.

SECTION 2. This act, upon approval by the Governor, shall take effect for tax years 1991 and thereafter.