H*4871(Rat #0262, Act #0208 of 2014)  General Bill, By Harrell, Owens, 
Bannister, Erickson, Forrester, Rutherford, Cobb-Hunter, Hayes, White and 
Mitchell
 AN ACT TO AMEND SECTION 59-40-140, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA,
 1976, RELATING TO VARIOUS PROVISIONS PERTAINING TO CHARTER SCHOOLS INCLUDING A
 PROVISION EXEMPTING ALL EARNINGS OR PROPERTY OF CHARTER SCHOOLS FROM STATE OR
 LOCAL TAXATION, EXCEPT FOR THE SALES TAX, SO AS TO CLARIFY THAT PROPERTY OF
 CHARTER SCHOOLS EXEMPT FROM SUCH TAXATION INCLUDES OWNED OR LEASED PROPERTY. -
 ratified title

   03/06/14  House  Introduced, read first time, placed on calendar
                     without reference (House Journal-page 24)
   03/12/14  House  Member(s) request name added as sponsor: Mitchell
   03/12/14  House  Read second time (House Journal-page 18)
   03/12/14  House  Roll call Yeas-113  Nays-0 (House Journal-page 18)
   03/12/14  House  Unanimous consent for third reading on next
                     legislative day (House Journal-page 18)
   03/13/14  House  Read third time and sent to Senate
                     (House Journal-page 328)
   03/13/14  Senate Introduced and read first time (Senate Journal-page 6)
   03/13/14  Senate Referred to Committee on Education
                     (Senate Journal-page 6)
   05/06/14  Senate Committee report: Favorable with amendment
                     Education (Senate Journal-page 12)
   05/20/14  Senate Committee Amendment Adopted (Senate Journal-page 17)
   05/20/14  Senate Read second time (Senate Journal-page 17)
   05/20/14  Senate Roll call Ayes-39  Nays-0 (Senate Journal-page 17)
   05/21/14  Senate Read third time and sent to House
                     (Senate Journal-page 30)
   05/22/14  House  Concurred in Senate amendment and enrolled
                     (House Journal-page 29)
   05/22/14  House  Roll call Yeas-98  Nays-0 (House Journal-page 29)
   05/29/14         Ratified R 262
   06/02/14         Signed By Governor
   06/06/14         Effective date 06/02/14
   06/10/14         Act No. 208

H. 4871

(A208, R262, H4871)

AN ACT TO AMEND SECTION 59-40-140, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO VARIOUS PROVISIONS PERTAINING TO CHARTER SCHOOLS INCLUDING A PROVISION EXEMPTING ALL EARNINGS OR PROPERTY OF CHARTER SCHOOLS FROM STATE OR LOCAL TAXATION, EXCEPT FOR THE SALES TAX, SO AS TO CLARIFY THAT PROPERTY OF CHARTER SCHOOLS EXEMPT FROM SUCH TAXATION INCLUDES OWNED OR LEASED PROPERTY.

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

Earnings on property exempt from state and local tax, sales tax exempted

SECTION    1.    Section 59-40-140(K) of the 1976 Code, as last amended by Act 164 of 2012, is further amended to read:

"(K)    Charter schools are exempt from state and local taxation, except the sales tax, on their earnings and property whether owned or leased. Instruments of conveyance to or from a charter school are exempt from all types of taxation of local or state taxes and transfer fees."

Time effective

SECTION    2.    This act takes effect upon approval by the Governor.

Ratified the 29th day of May, 2014.

Approved the 2nd day of June, 2014.