Current Status Bill Number:3809 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19970402 Primary Sponsor:Harrell All Sponsors:Harrell, Altman, Campsen, J. Smith, Wilkins, H. Brown, Boan, Limehouse, Whatley, Hodges, Allison, Littlejohn, Breeland and Lanford Drafted Document Number:bbm\9278mm.97 Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:County property tax assessments, industrial development projects; inducement or lease agreement, Political Subdivisions
Body Date Action Description Com Leg Involved
______ ________ _______________________________________ _______ ____________
House 19970402 Introduced, read first time, 30 HWM
referred to Committee
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TO AMEND SECTIONS 4-12-30 AND 4-29-67, BOTH AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, BOTH RELATING TO FILING AND PAYMENT REQUIREMENTS FOR INVESTORS FOR PURPOSES OF FEE IN LIEU OF PROPERTY TAX ARRANGEMENTS AND INDUSTRIAL DEVELOPMENT PROJECTS, SO AS TO REQUIRE FILING OF THE INDUCEMENT OR LEASE AGREEMENT WITH THE DEPARTMENT OF REVENUE AND THE COUNTY AUDITORS AND COUNTY ASSESSORS FOR ALL PARTICIPATING COUNTIES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 4-12-30(Q) of the 1976 Code, as added by Act 125 of 1995, is amended by adding:
"(7) Within thirty days of the date of execution of an inducement or lease agreement, a copy of the agreement must be filed with the Department of Revenue and the county auditors and the county assessors for the county or counties in which the project is located. If the project is located in a multicounty park, the agreements must be filed with the auditors and assessors for all counties participating in the multicounty park."
SECTION 2. Section 4-29-67(W) of the 1976 Code, as last amended by Act 181 of 1993, is further amended by adding:
"(6) Within thirty days of the date of execution of an inducement or lease agreement, a copy of the agreement must be filed with the Department of Revenue and the county auditors and the county assessors for the county or counties in which the project is located. If the project is located in a multicounty park, the agreements must be filed with the auditors and assessors for all counties participating in the multicounty park."
SECTION 3. This act takes effect for taxable years beginning after 1997.