Current Status Bill Number:304 Type of Legislation:General Bill GB Introducing Body:Senate Introduced Date:19950110 Primary Sponsor:Elliott All Sponsors:Elliott Drafted Document Number:JIC\5270HTC.95 Companion Bill Number:3872, 305 Residing Body:Senate Current Committee:Finance Committee 06 SF Subject:Sales tax exemptions
Body Date Action Description Com Leg Involved
______ ________ _______________________________________ _______ ____________
Senate 19950110 Introduced, read first time, 06 SF
referred to Committee
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TO AMEND SECTION 12-36-2120, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO SALES TAX EXEMPTIONS, SO AS TO EXEMPT GROSS PROCEEDS OF FURNITURE, FURNISHINGS, FIXTURES, MATERIALS, AND EQUIPMENT REQUIRED FOR COMPLETION OF A MAJOR TOURISM OR RESIDENTIAL FACILITY CONSTRUCTED ON A FORMER MILITARY BASE FROM THE START OF CONSTRUCTION THROUGH COMPLETION OR FOR FIVE YEARS WHICHEVER OCCURS FIRST AND TO PROVIDE DEFINITIONS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-36-2120 of the 1976 Code is amended by adding an appropriately numbered item at the end to read:
"( ) furniture, furnishings, fixtures, materials, and equipment required for completion of a major tourism or recreation facility constructed on a former military base from the start of construction until completion or for five years from completion, whichever occurs first. For purposes of this item, `major tourism facility or recreation facility' is defined as provided in Section 12-21-2423."
SECTION 2. This act takes effect on the first day of the second month following approval by the Governor and applies with respect to construction begun on a major tourism or recreation facility on or after that date.