Current Status Introducing Body:
HouseBill Number: 3071Ratification Number: 31Act Number: 17Primary Sponsor: T.C. AlexanderType of Legislation: GBSubject: Real estate appraiser, representation of taxpayerCompanion Bill Number: 249Date Bill Passed both Bodies: 19930303Computer Document Number: JIC/5028HC.93Governor's Action: SDate of Governor's Action: 19930323Introduced Date: 19930112Date of Last Amendment: 19930204Last History Body: ------Last History Date: 19930323Last History Type: Act No. 17Scope of Legislation: StatewideAll Sponsors: T.C. AlexanderType of Legislation: General Bill
Bill Body Date Action Description CMN Leg Involved ---- ------ ------------ ------------------------------ --- ------------ 3071 ------ 19930323 Act No. 17 3071 ------ 19930323 Signed by Governor 3071 ------ 19930317 Ratified R 31 3071 Senate 19930303 Read third time, enrolled for ratification 3071 Senate 19930302 Read second time 3071 Senate 19930225 Committee Report: Favorable 12 3071 Senate 19930209 Introduced, read first time, 12 referred to Committee 3071 House 19930205 Read third time, sent to Senate 3071 House 19930204 Amended, read second time, unanimous consent for third reading on next Legislative day 3071 House 19930203 Committee Report: Favorable 26 with amendment 3071 House 19930112 Introduced, read first time, 26 referred to CommitteeView additional legislative information at the LPITS web site.
(A17, R31, H3071)
AN ACT TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 40-60-45 SO AS TO PROVIDE THAT A STATE LICENSED OR STATE CERTIFIED REAL ESTATE APPRAISER IS NOT REQUIRED FOR REAL ESTATE-RELATED FINANCIAL TRANSACTIONS WHICH ARE EXEMPTED FROM THE APPRAISAL REQUIREMENT UNDER THE REGULATIONS OF THE FEDERAL BANKING AGENCIES; AND TO AMEND SECTION 12-4-335, RELATING TO THE QUALIFICATIONS REQUIRED OF PERSONS WHO REPRESENT TAXPAYERS IN THE ADMINISTRATIVE TAX PROCESS BEFORE A STATE OR LOCAL TAX AUTHORITY, SO AS TO ALLOW A REAL ESTATE APPRAISER TO REPRESENT A TAXPAYER IN AN ADMINISTRATIVE MATTER LIMITED TO THE VALUATION OF REAL PROPERTY AND TO PROVIDE EXCEPTIONS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-4-335(C) of the 1976 Code, as added by Act 338 of 1992, is amended to read:
"(C) (1) Taxpayers may be represented during the administrative tax process by the same individuals allowed to represent them in administrative tax proceedings with the Internal Revenue Service pursuant to Sections 10.3(a), (b), and (c); Section 10.7(a)(1) through (4) and (7); and Section 10.7 (b) and (c) of United States Treasury Department Circular No. 230 as revised through March, 1986, unless they have been suspended or disbarred pursuant to subsection (D) of this section.
(2) A taxpayer may be represented by a real estate appraiser who is registered, licensed, or certified pursuant to Chapter 60 of Title 40 during the administrative tax process in a matter limited to questions concerning the valuation of real property unless the appraiser has been suspended or disbarred pursuant to subsection (D) of this section."
Exemption from licensing
SECTION 2. Chapter 60, Title 40 of the 1976 Code is amended by adding:
"Section 40-60-45. A real estate appraiser registered, licensed, or certified pursuant to this chapter is not required for real-estate related financial transactions exempt from the appraisal requirement under the regulations of federal banking agencies."
Time effective SECTION 3. This act takes effect upon approval by the Governor.
Approved the 23rd day of March, 1993.