S*0534(Rat #0070, Act #0047 of 1995)  General Bill, By Senate Finance
 A Bill 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.

   02/16/95  Senate Introduced, read first time, placed on calendar
                     without reference SJ-6
   02/21/95  Senate Read second time SJ-16
   02/21/95  Senate Unanimous consent for third reading on next
                     legislative day SJ-16
   02/22/95  Senate Read third time and sent to House SJ-16
   02/23/95  House  Introduced and read first time HJ-13
   02/23/95  House  Referred to Committee on Ways and Means HJ-13
   04/20/95  House  Committee report: Favorable Ways and Means HJ-2
   04/26/95  House  Read second time HJ-61
   04/27/95  House  Read third time and enrolled HJ-14
   05/11/95         Ratified R 70
   05/11/95         No signature required
   06/05/95         Copies available
   06/05/95         Act No. 47

AN ACT 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:

Conditional amendment ratified

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."

Ratified the 11th day of May, 1995.