S 307 Session 111 (1995-1996)
S 0307 Joint Resolution, By Hayes
Similar(S 164)
A Joint Resolution to ratify an amendment to Section 3, Article X of the
Constitution of South Carolina, 1895, so as to permit a municipal governing
body to exempt from municipal ad valorem taxes for not more than five years
all new corporate headquarters, corporate office facilities, distribution
facilities, and additions to such facilities located in the municipality, and
to authorize a similar exemption for all new enterprises engaged in research
and development activities and additions to such enterprises located in the
municipality and to provide that these exemptions are subject to those terms
and conditions that the General Assembly may provide by law.
01/10/95 Senate Introduced and read first time SJ-129
01/10/95 Senate Referred to Committee on Finance SJ-129
A JOINT RESOLUTION
TO RATIFY AN AMENDMENT TO SECTION 3, ARTICLE X
OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, SO AS
TO PERMIT A MUNICIPAL GOVERNING BODY TO EXEMPT
FROM MUNICIPAL AD VALOREM TAXES FOR NOT MORE
THAN FIVE YEARS ALL NEW CORPORATE
HEADQUARTERS, CORPORATE OFFICE FACILITIES,
DISTRIBUTION FACILITIES, AND ADDITIONS TO SUCH
FACILITIES LOCATED IN THE MUNICIPALITY, AND TO
AUTHORIZE A SIMILAR EXEMPTION FOR ALL NEW
ENTERPRISES ENGAGED IN RESEARCH AND
DEVELOPMENT ACTIVITIES AND ADDITIONS TO SUCH
ENTERPRISES LOCATED IN THE MUNICIPALITY AND TO
PROVIDE THAT THESE EXEMPTIONS ARE SUBJECT TO
THOSE TERMS AND CONDITIONS THAT THE GENERAL
ASSEMBLY MAY PROVIDE BY LAW.
Be it enacted by the General Assembly of the State of South
Carolina:
SECTION 1. The amendment to item (g), Section 3, Article X
of the Constitution of South Carolina, 1895, prepared under the
terms of a Joint Resolution of 1994 bearing ratification number 424,
having been submitted to the qualified electors at the general
election of 1994 as prescribed in Section 1, Article XVI of the
Constitution of South Carolina, 1895, and a favorable vote having
been received on the amendment, is ratified and declared to be a
part of the Constitution so that item (g), Section 3, Article X is
amended by adding at the end:
"The governing body of a municipality may by ordinance
exempt from municipal ad valorem taxation for not more than five
years:
(1) all new corporate headquarters, corporate office
facilities, distribution facilities located in the municipality, and
additions to such facilities; and
(2) all facilities of new enterprises engaged in research and
development activities located in the municipality, and additions to
such facilities.
The exemptions allowed pursuant to this paragraph are subject to
those terms and conditions that the General Assembly may provide
by law."
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