H 3354 {Rat #84, Act #68 of 2021} General Bill, By Ballentine
 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 A RENEWABLE ENERGY
 RESOURCE PROPERTY HAVING A NAMEPLATE CAPACITY OF AND OPERATING AT NO GREATER
 THAN TWENTY KILOWATTS, AND TO REMOVE PROVISIONS OF THE EXEMPTION FOR NONPROFIT
 HOUSING CORPORATIONS. - ratified title

   12/09/20  House  Prefiled
   12/09/20  House  Referred to Committee on Ways and Means
   01/12/21  House  Introduced and read first time (House Journal-page 168)
   01/12/21  House  Referred to Committee on Ways and Means
                     (House Journal-page 168)
   03/18/21  House  Committee report: Favorable Ways and Means
                     (House Journal-page 42)
   04/06/21  House  Read second time (House Journal-page 86)
   04/06/21  House  Roll call Yeas-107  Nays-4 (House Journal-page 86)
   04/07/21  House  Read third time and sent to Senate
                     (House Journal-page 14)
   04/07/21  Senate Introduced and read first time (Senate Journal-page 5)
   04/07/21  Senate Referred to Committee on Finance
                     (Senate Journal-page 5)
   05/05/21  Senate Committee report: Favorable with amendment
                     Finance (Senate Journal-page 8)
   05/06/21  Senate Committee Amendment Adopted (Senate Journal-page 41)
   05/06/21  Senate Read second time (Senate Journal-page 41)
   05/06/21  Senate Roll call Ayes-45  Nays-0 (Senate Journal-page 41)
   05/11/21  Senate Read third time and returned to House with
                     amendments (Senate Journal-page 13)
   05/12/21  House  Concurred in Senate amendment and enrolled
                     (House Journal-page 66)
   05/12/21  House  Roll call Yeas-107  Nays-1 (House Journal-page 66)
   05/13/21         Ratified R  84
   05/17/21         Signed By Governor
   06/01/21         Effective date  05/17/21
   06/01/21         Act No.  68

H. 3354

(A68, R84, H3354)

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 A RENEWABLE ENERGY RESOURCE PROPERTY HAVING A NAMEPLATE CAPACITY OF AND OPERATING AT NO GREATER THAN TWENTY KILOWATTS, AND TO REMOVE PROVISIONS OF THE EXEMPTION FOR NONPROFIT HOUSING CORPORATIONS.

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

Property tax exemptions, renewable energy property

SECTION    1.    Section 12-37-220(B) of the 1976 Code, as last amended by Act 145 of 2020, is further amended by adding an appropriately numbered item at the end to read:

"( )    a renewable energy resource property having a nameplate capacity of and operating at no greater than twenty kilowatts, as measured in alternating current. For purposes of this item, 'renewable energy resource' means property defined in Section 58-40-10. This definition includes, but is not limited to, all components that enhance the operational characteristics of the generating equipment, such as an advanced inverter or battery storage device, and equipment required to meet all applicable safety, performance, interconnection, and reliability standards established by the commission, the National Electrical Code, the National Electrical Safety Code, the Institute of Electrical and Electronics Engineers, Underwriters Laboratories, the Federal Energy Regulatory Commission, and any local governing authorities."

Property tax exemption, nonprofit housing

SECTION    2.    Section 12-37-220(B)(11)(e) of the 1976 Code, as last amended by Act 145 of 2020, is further amended to read:

"(e)    all property of nonprofit housing corporations or instrumentalities of these corporations when the property is devoted to providing housing to low or very low income residents. A nonprofit housing corporation or its instrumentality must satisfy the safe harbor provisions of Revenue Procedure 96-32 issued by the Internal Revenue Service for this exemption to apply. For purposes of this subitem, property of nonprofit housing corporations or instrumentalities of these corporations includes all leasehold interests in property owned by an entity that provides housing accommodations to persons of low or very low income, and in which a wholly owned affiliate or wholly owned instrumentality of a nonprofit housing corporation is the general partner, managing member, or the equivalent. However, the exemption allowed by this subitem only applies if the property of nonprofit housing corporations or instrumentalities of these corporations satisfies the safe harbor provisions of Revenue Procedure 96-32 issued by the Internal Revenue Service;"

Time effective

SECTION    3.    This act takes effect upon approval by the Governor and applies to property tax years beginning after 2020.

Ratified the 13th day of May, 2021.

Approved the 17th day of May, 2021.