Bill 4660

                    Current Status

Bill Number:                    4660
Ratification Number:            389
Act Number:                     328
Type of Legislation:            General Bill GB
Introducing Body:               House
Introduced Date:                19960222
Primary Sponsor:                Rhoad
All 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 Cain
Drafted Document Number:        jic\5289htc.96
Date Bill Passed both Bodies:   19960430
Governor's Action:              S
Date of Governor's Action:      19960520
Subject:                        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 Committee

(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."

Time effective

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.