South Carolina General Assembly
112th Session, 1997-1998

Bill 3068


Indicates Matter Stricken
Indicates New Matter


                    Current Status

Bill Number:                       3068
Type of Legislation:               General Bill GB
Introducing Body:                  House
Introduced Date:                   19970114
Primary Sponsor:                   Limehouse 
All Sponsors:                      Limehouse, Altman and
                                   Whatley
Drafted Document Number:           jic\5168htc.97
Residing Body:                     House
Current Committee:                 Ways and Means Committee 30
                                   HWM
Subject:                           Property tax exemption,
                                   historic, fair market value;
                                   taxation



History


Body    Date      Action Description                       Com     Leg Involved
______  ________  _______________________________________  _______ ____________
House   19970114  Introduced, read first time,             30 HWM
                  referred to Committee
House   19961218  Prefiled, referred to Committee          30 HWM

View additional legislative information at the LPITS web site.


(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND SECTION 12-37-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO EXEMPT AN AMOUNT OF FAIR MARKET VALUE OF AN OWNER-OCCUPIED RESIDENTIAL PROPERTY DESIGNATED AS AN HISTORIC PROPERTY REPRESENTED BY THE DIFFERENCE IN THE FAIR MARKET VALUE OF THE DESIGNATED PROPERTY AND A SIMILAR PROPERTY NOT DESIGNATED.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. Section 12-37-220(B) of the 1976 Code is amended by adding an appropriately numbered item at the end to read:

"( ) An amount of the fair market value of property assessed pursuant to Section 12-43-220(c) designated as `historic' under the qualifications provided in Section 4-9-195(B)(1) represented by the difference between the fair market value of the designated property and the fair market value of a similar property not designated."

SECTION 2. Upon approval by the Governor, this act is effective for taxable years beginning after 1996.

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