South Carolina Legislature


 

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H*2647
Session 105 (1983-1984) 

H*2647(Rat #0488, Act #0419 of 1984)  General Bill, By T.M. Marchant, 
J.F. Anderson, S. Blatt, T.A. Brett, T.M. Burriss, M.J. Busbee, B. Campbell, 
Carnell, W.N. Cork, T.W. Edwards, P. Evatt, B.J. Gordon, H.C. Granger, 
M.S. Gulledge, J.L. Harris, P.B. Harris, Harvin, R.L. Helmly, B.L. Hendricks, 
L.I. Hendricks, D.N. Holt, B.E. Huff, T.E. Huff, H.H. Keyserling, Kirsh, 
J.R. Klapman, Koon, E.C. Lewis, T.G. Mangum, Matthews, J.G. McAbee, 
D.M. McEachin, R.N. McLellan, L. Phillips, Wilkins and R.R. Woods
 A Bill to amend Section 12-43-250, Code of Laws of South Carolina, 1976,
 relating to classification of property and assessment ratios for purposes of
 ad valorem taxation, so as to exclude from the manufacturing and utility
 property classification real property owned by or leased to a manufacturer and
 used primarily for research and development and to provide a definition for
 research and development and to exclude from the manufacturing and utility
 property classification real property owned by or leased to a manufacturer
 used primarily as an office building if the building is not located on the
 premises of or contiguous to the plant site.-amended title

   03/09/83  House  Introduced and read first time HJ-1441
   03/09/83  House  Referred to Committee on Ways and Means HJ-1441
   03/16/83  House  Committee report: Favorable with amendment Ways
                     and Means HJ-1511
   03/23/83  House  Debate interrupted HJ-1642
   03/24/83  House  Amended HJ-1681
   03/24/83  House  Read second time HJ-1683
   03/29/83  House  Read third time and sent to Senate HJ-1720
   03/29/83  Senate Introduced and read first time SJ-835
   03/29/83  Senate Referred to Committee on Finance SJ-835
   05/17/83  Senate Committee report: Favorable with amendment
                     Finance SJ-1370
   05/19/83  Senate Amended SJ-1416
   05/19/83  Senate Read second time SJ-1417
   05/19/83  Senate Ordered to third reading with notice of
                     amendments SJ-1417
   05/31/83  Senate  Read third time SJ-1664
   05/31/83  Senate Returned SJ-1664
   06/02/83  House  Debate adjourned until Monday, August 15, 1983 HJ-347
   01/11/84  House  Debate adjourned on amendments HJ-373
   01/12/84  House  Debate adjourned until Wednesday, January 18,
                     1984 HJ-446
   01/18/84  House  Debate adjourned on amendments HJ-548
   02/02/84  House  Debate adjourned on amendments HJ-813
   04/11/84  House  Debate adjourned until Tuesday, April 17, 1984 HJ-234
   04/17/84  House  Senate amendment amended HJ-2437
   04/17/84  House  Returned HJ-2437
   04/18/84  Senate Concurred in House amendment and enrolled SJ-1429
   04/18/84  Senate Recalled from Legislative Council SJ-1451
   04/18/84  Senate Reconsidered SJ-1451
   04/19/84  Senate  Adjourned debate on motion to concur in H.
                     amendments SJ-1459
   04/25/84  Senate Non-concurrence in House amendment SJ-1517
   04/26/84  House   Receded from amendment to Senate amendment HJ-2650
   05/24/84  Senate Ordered enrolled for ratification SJ-1920
   05/29/84         Ratified R 488
   05/31/84         Signed By Governor
   05/31/84         Effective date 05/31/84
   05/31/84         Act No. 419
   06/07/84         Copies available



(A419, R488, H2647)

AN ACT TO AMEND SECTION 12-43-220, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO CLASSIFICATION OF PROPERTY AND ASSESSMENT RATIOS FOR PURPOSES OF AD VALOREM TAXATION, SO AS TO EXCLUDE FROM THE MANUFACTURING AND UTILITY PROPERTY CLASSIFICATION REAL PROPERTY OWNED BY OR LEASED TO A MANUFACTURER AND USED PRIMARILY FOR RESEARCH AND DEVELOPMENT AND TO PROVIDE A DEFINITION FOR RESEARCH AND DEVELOPMENT AND TO EXCLUDE FROM THE MANUFACTURING AND UTILITY PROPERTY CLASSIFICATION REAL PROPERTY OWNED BY OR LEASED TO A MANUFACTURER USED PRIMARILY AS AN OFFICE BUILDING IF THE BUILDING IS NOT LOCATED ON THE PREMISES OF OR CONTIGUOUS TO THE PLANT SITE.

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

Classification of property assessment ratios

SECTION 1. Item (a) of Section 12-43-220 of the 1976 Code is amended to read:

"(a) All real and personal property owned by or leased to manufacturers and utilities and used by the manufacturer or utility in the conduct of the business, must be taxed on an assessment equal to ten and one-half percent of the fair market value of the property.

Real property owned by or leased to a manufacturer and used primarily for research and development is not considered used by a manufacturer in the conduct of the business of the manufacturer for purposes of classification of property under item (a) of this section. The term 'research and development' means basic and applied research in the sciences and engineering, and the design and development of prototypes and processes.

Real property owned by or leased to a manufacturer and used primarily as an office building is not considered used by a manufacturer in the conduct of the business of the manufacturer for purposes of classification of property under item (a) of this section if the office building is not located on the premises of or contiguous to the plant site of the manufacturer."

Time effective

SECTION 2. This act shall take effect upon approval by the Governor.




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