South Carolina General Assembly
109th Session, 1991-1992

Bill 353

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                    Current Status

Introducing Body:               Senate
Bill Number:                    353
Primary Sponsor:                Giese
Committee Number:               30
Type of Legislation:            GB
Subject:                        Homestead property tax
                                exemption
Residing Body:                  House
Computer Document Number:       353
Introduced Date:                Jan 08, 1991
Last History Body:              House
Last History Date:              Feb 06, 1991
Last History Type:              Introduced, read first time,
                                referred to Committee
Scope of Legislation:           Statewide
All Sponsors:                   Giese
                                Rose
Type of Legislation:            General Bill
History


 Bill  Body    Date          Action Description              CMN
 ----  ------  ------------  ------------------------------  ---
 353   House   Feb 06, 1991  Introduced, read first time,    30
                             referred to Committee
 353   Senate  Feb 05, 1991  Read third time, sent to House
 353   Senate  Jan 30, 1991  Read second time, notice of
                             general amendments
 353   Senate  Jan 29, 1991  Committee Report: Favorable     06
 353   Senate  Jan 08, 1991  Introduced and read first       06
                             time, referred to Committee
 353   Senate  Dec 10, 1990  Prefiled, referred to           06
                             Committee
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

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COMMITTEE REPORT

January 29, 1991

S. 353

Introduced by SENATORS Giese and Rose

S. Printed 1/29/91--S.

Read the first time January 8, 1991.

THE COMMITTEE ON FINANCE

To whom was referred a Bill (S. 353), to amend Section 12-37-250, as amended, Code of Laws of South Carolina, 1976, relating to the Homestead Property Tax exemption, etc., respectfully

REPORT:

That they have duly and carefully considered the same, and recommend that the same do pass:

JAMES M. WADDELL, JR., for Committee.

STATEMENT OF ESTIMATED FISCAL IMPACT

Senate Bill 353 amends Section 12-37-250 relating to the homestead property tax exemption so as to delete the date by which life estates created other than by will are otherwise eligible for the exemption.

This bill would require an additional state appropriation of less than $10,000 per year.

Approved By:

S. Hunter Howard, Jr.

S.C. Tax Commission

A BILL

TO AMEND SECTION 12-37-250, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE HOMESTEAD PROPERTY TAX EXEMPTION, SO AS TO DELETE THE DATE BY WHICH LIFE ESTATES CREATED OTHER THAN BY WILL ARE OTHERWISE ELIGIBLE FOR THE EXEMPTION.

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

SECTION 1. The ninth paragraph of Section 12-37-250 of the 1976 Code is amended to read:

"The provisions of this section shall apply to life estates created by will and also to life estates otherwise created which were in effect on or before December 31, 1979."

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

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