Current Status Bill Number:
4660Ratification Number: 389Act Number: 328Type of Legislation: General Bill GBIntroducing Body: HouseIntroduced Date: 19960222Primary Sponsor: RhoadAll Sponsors: Rhoad, Anderson, Breeland, Fleming, Loftis, Seithel, Knotts, Stoddard, Sandifer, Wright, Quinn, Bailey, Cato, Sharpe, J. Hines, Spearman, Herdklotz, Townsend, McCraw, J. Brown, Neilson, Harrison, Baxley, Harvin, McMahand, H. Brown, Byrd, Davenport, Lloyd, M. Hines, Kinon, Limehouse, Waldrop, L. Whipper, Cobb-Hunter, Phillips, Felder and CainDrafted Document Number: jic\5289htc.96Date Bill Passed both Bodies: 19960430Governor's Action: SDate of Governor's Action: 19960520Subject: Insurance premium tax exemptions, workers' compensation
Body Date Action Description Com Leg Involved ______ ________ _______________________________________ _______ ____________ ------ 19960530 Act No. A328 ------ 19960520 Signed by Governor ------ 19960514 Ratified R389 Senate 19960430 Read third time, enrolled for ratification Senate 19960429 Read second time Senate 19960425 Committee report: Favorable 12 SLCI Senate 19960321 Introduced, read first time, 12 SLCI referred to Committee House 19960321 Read third time, sent to Senate House 19960320 Read second time House 19960319 Debate adjourned until Wednesday, 19960320 House 19960313 Committee report: Favorable 26 HLCI House 19960222 Introduced, read first time, 26 HLCI referred to CommitteeView additional legislative information at the LPITS web site.
(A328, R389, H4660)
AN ACT TO AMEND SECTION 38-7-180, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE INSURANCE PREMIUM TAX EXEMPTIONS ALLOWED INSURANCE COMPANIES THAT INSURE ONLY CHURCHES, SO AS TO EXTEND THE EXEMPTION TO WORKERS' COMPENSATION INSURANCE PREMIUMS AND TO CLARIFY A REFERENCE.
Be it enacted by the General Assembly of the State of South Carolina:
Premium tax exemption
SECTION 1. Section 38-7-180 of the 1976 Code, as last amended by Act 181 of 1993, is further amended to read:
"Section 38-7-180. An insurance company exempt from federal income tax pursuant to Section 501(c)(3) or (4) of the Internal Revenue Code of 1986, and which insures only churches and their property, is exempt from taxes levied on insurance companies in Sections 38-7-20, 38-7-30, 38-7-40, and 38-7-50. To provide proof of exemption from federal income tax under Section 501(c)(3) or (4) of the Internal Revenue Code of 1986, the company shall provide to the director or his designee a certificate issued by the Internal Revenue Service demonstrating the company's tax-exempt status. The company shall further provide evidence satisfactory to the director or his designee that it only insures churches and their property."
SECTION 2. Upon approval by the Governor, this act is effective for insurance premiums paid after June 30, 1996.
Approved the 20th day of May, 1996.