H*4320(Rat #0360, Act #0318 of 2004)  Joint Resolution, By McLeod
 A JOINT RESOLUTION PROPOSING AN AMENDMENT TO SECTION 1, ARTICLE X OF THE
 CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO THE CLASSIFICATION OF
 PROPERTY AND APPLICABLE ASSESSMENT RATIOS FOR PURPOSES OF PROPERTY TAX, SO AS
 TO DELETE THE SPECIFIC LIMIT OF TEN SHAREHOLDERS FOR A CORPORATION TO BE
 ELIGIBLE FOR A FOUR PERCENT ASSESSMENT RATIO ON ITS AGRICULTURAL REAL PROPERTY
 AND PROVIDE THAT THE GENERAL ASSEMBLY SHALL PROVIDE BY LAW THE MAXIMUM NUMBER
 OF SHAREHOLDERS FOR A CORPORATION TO BE ELIGIBLE FOR SUCH AN ASSESSMENT RATIO.
 - ratified title

   05/28/03  House  Introduced and read first time HJ-141
   05/28/03  House  Referred to Committee on Ways and Means HJ-142
   06/04/03  House  Recalled from Committee on Ways and Means HJ-56
   06/05/03         Scrivener's error corrected
   01/13/04  House  Read second time HJ-121
   01/13/04  House  Roll call Yeas-114  Nays-0 HJ-123
   01/14/04  House  Read third time and sent to Senate HJ-16
   01/14/04  Senate Introduced and read first time SJ-13
   01/14/04  Senate Referred to Committee on Finance SJ-13
   05/19/04  Senate Committee report: Favorable Finance SJ-39
   05/20/04  Senate Read second time SJ-40
   06/01/04  Senate Read third time and enrolled SJ-21
   06/02/04         Ratified R 360
   06/02/04         No signature required
   08/04/04         Copies available
   08/04/04         Effective date 06/02/04
   10/20/04         Act No. 318

(A318, R360, H4320)

A JOINT RESOLUTION PROPOSING AN AMENDMENT TO SECTION 1, ARTICLE X OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO THE CLASSIFICATION OF PROPERTY AND APPLICABLE ASSESSMENT RATIOS FOR PURPOSES OF PROPERTY TAX, SO AS TO DELETE THE SPECIFIC LIMIT OF TEN SHAREHOLDERS FOR A CORPORATION TO BE ELIGIBLE FOR A FOUR PERCENT ASSESSMENT RATIO ON ITS AGRICULTURAL REAL PROPERTY AND PROVIDE THAT THE GENERAL ASSEMBLY SHALL PROVIDE BY LAW THE MAXIMUM NUMBER OF SHAREHOLDERS FOR A CORPORATION TO BE ELIGIBLE FOR SUCH AN ASSESSMENT RATIO.

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

Proposed constitutional amendment

SECTION    1. It is proposed that Section 1(4)(A)(i), Article X of the Constitution of this State be amended to read:

"(i)    have more shareholders than the General Assembly shall provide by law;"

Statement of the question

SECTION    2.    The proposed amendment must be submitted to the qualified electors at the next general election for representatives. Ballots must be provided at the various voting precincts with the following words printed or written on the ballot:

"Must Section 1, Article X of the Constitution of this State relating to the classification of property and applicable assessment ratios for purposes of property tax be amended so as to delete the specific limit of ten shareholders as the most shareholders a corporation may have for it to be eligible for a four percent assessment ratio on its agricultural real property and provide that the General Assembly shall provide by law the maximum number of shareholders a corporation may have to be eligible for the four percent assessment ratio?

Those voting in favor of the question shall deposit a ballot with a check or cross mark in the square after the word 'yes', and those voting against the question shall deposit a ballot with a check or cross mark in the square after the word 'No'."

Ratified the 2nd day of June, 2004.