Current Status Introducing Body:Senate Bill Number:1444 Primary Sponsor:Rose Committee Number:06 Type of Legislation:GB Subject:Industrial development projects Residing Body:Senate Current Committee:Finance Computer Document Number:1444 Introduced Date:19940601 Last History Body:Senate Last History Date:19940601 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:Rose Type of Legislation:General Bill
Bill Body Date Action Description CMN Leg Involved
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1444 Senate 19940601 Introduced, read first time, 06
referred to Committee
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TO AMEND SECTION 4-29-67, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE FEE IN LIEU OF TAXES FOR INDUSTRIAL DEVELOPMENT PROJECTS, SO AS TO REDUCE THE MINIMUM INVESTMENT REQUIRED FROM EIGHTY-FIVE MILLION DOLLARS TO TEN MILLION DOLLARS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 4-29-67(B)(3) of the 1976 Code is amended to read:
"(3) The minimum level of investment must be at least eighty-five ten million dollars and must be invested within the time period provided in subsection (C)."
SECTION 2 . This act takes effect upon approval by the Governor.