Current Status Introducing Body:
SenateBill Number: 420Primary Sponsor: WaddellCommittee Number: 30Type of Legislation: GBSubject: Inventories, property tax exemptResiding Body: HouseCurrent Committee: Ways and MeansCompanion Bill Number: 3278Computer Document Number: JIC/5152.HCIntroduced Date: Jan 09, 1991Last History Body: HouseLast History Date: Feb 06, 1991Last History Type: Introduced, read first time, referred to CommitteeScope of Legislation: StatewideAll Sponsors: Waddell Leatherman Lourie HayesType of Legislation: General Bill
Bill Body Date Action Description CMN ---- ------ ------------ ------------------------------ --- 420 House Feb 06, 1991 Introduced, read first time, 30 referred to Committee 420 Senate Feb 05, 1991 Read third time, sent to House 420 Senate Jan 30, 1991 Read second time 420 Senate Jan 29, 1991 Committee Report: Favorable 06 420 Senate Jan 09, 1991 Introduced and read first 06 time, referred to CommitteeView additional legislative information at the LPITS web site.
Indicates Matter Stricken
Indicates New Matter
January 29, 1991
Introduced by SENATORS Waddell, Leatherman, Lourie and Hayes
S. Printed 1/29/91--S.
Read the first time January 9, 1991.
To whom was referred a Bill (S. 420), to amend Section 12-37-220, as amended, Code of Laws of South Carolina, 1976, relating to property tax exemptions, etc., respectfully
That they have duly and carefully considered the same, and recommend that the same do pass:
JAMES M. WADDELL, JR., for Committee.
Senate Bill 420 amends Section 12-37-220 relating to property tax exemptions, so as to delete obsolete language with respect to the exemption for inventories and clarify that the exemption applies to all inventories.
This bill would have no effect on state or local revenue.
S. Hunter Howard, Jr.
S.C. Tax Commission
TO AMEND SECTION 12-37-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO DELETE OBSOLETE LANGUAGE WITH RESPECT TO THE EXEMPTION FOR INVENTORIES AND CLARIFY THAT THE EXEMPTION APPLIES TO ALL INVENTORIES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-37-220 B(30) of the 1976 Code is amended to read:
"(30) Effective for the 1988 and subsequent taxable years, all All inventories of business establishments."
SECTION 2. This act takes effect upon approval by the Governor.