Current Status Bill Number:3202 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19950110 Primary Sponsor:Scott All Sponsors:Scott Drafted Document Number:JIC\5228HTC.95 Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Property tax exemptions
Body Date Action Description Com Leg Involved
______ ________ _______________________________________ _______ ____________
House 19950530 Recommitted to Committee 30 HWM
House 19950516 Objection by Representative Marchbanks
Herdklotz
Jaskwhich
Witherspoon
Koon
Scott
Lloyd
House 19950511 Recalled from Committee 30 HWM
House 19950110 Introduced, read first time, 30 HWM
referred to Committee
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Indicates Matter Stricken
Indicates New Matter
RECALLED
May 11, 1995
H. 3202
S. Printed 5/11/95--H.
Read the first time January 10, 1995.
This bill would reduce local property tax revenue by less than $200,000 assuming that local governments do not adjust millage rates to compensate for the reduction in assessed property values.
This property tax exemption would be extended to organizations that lease rather than own property used for the holding of its meetings and the conduct of the business of the society. The number and values of these leased properties will be unknown until application is made for the exemption. Our consensus estimate is that less than $15,000,000 of property at fair market value would become exempt through this legislation.
Approved By:
Burnet R. Maybank, III
S.C. Department of Revenue
TO AMEND SECTION 12-37-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO EXTEND THE EXEMPTION ALLOWED THE PROPERTY OF A RELIGIOUS, CHARITABLE, ELEEMOSYNARY, EDUCATION, OR LITERARY SOCIETY TO PROPERTY LEASED BY SUCH ORGANIZATIONS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-37-220(B)(16)(a) of the 1976 Code, as last amended by Section 200, Act 181 of 1993, is further amended to read:
"(a) The Property of owned or leased by any religious, charitable, eleemosynary, educational, or literary society, corporation, or other association, when the property is used by it primarily for the holding of its meetings and the conduct of the business of the society, corporation, or association and no profit or benefit therefrom inures to the benefit of any private stockholder or individual."
SECTION 2. Upon approval by the Governor, this act is effective for property tax years beginning after 1994.