Bill 4622

                    Current Status

Bill Number:                    4622
Type of Legislation:            General Bill GB
Introducing Body:               House
Introduced Date:                19980212
Primary Sponsor:                Sheheen 
All Sponsors:                   Sheheen 
Drafted Document Number:        jic\5252htc.98
Residing Body:                  House
Current Committee:              Ways and Means Committee 30
                                HWM
Subject:                        Property tax assessments, four
                                percent ratio allowed owner-occupied if
                                established by certain date;
                                Taxation

Body    Date      Action Description                       Com     Leg Involved
______  ________  _______________________________________  _______ ____________

House   19980421  Recommitted to Committee                 30 HWM
House   19980415  Recalled from Committee                  30 HWM
House   19980212  Introduced, read first time,             30 HWM
                  referred to Committee

Indicates Matter Stricken
Indicates New Matter

RECALLED

April 15, 1998

H. 4622

S. Printed 4/15/98--H.

Read the first time February 12, 1998.

A BILL

TO AMEND SECTION 12-43-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE CLASSIFICATION OF PROPERTY AND THE APPLICABLE ASSESSMENT RATIOS FOR PURPOSES OF THE PROPERTY TAX, SO AS TO ESTABLISH OWNERSHIP AS OF DECEMBER THIRTY-FIRST PRECEDING THE TAX YEAR AS THE DATE BY WHICH RESIDENTIAL PROPERTY MUST BE OWNED BY THE OWNER-OCCUPANT IN ORDER TO QUALIFY FOR THE FOUR PERCENT ASSESSMENT RATIO ALLOWED FOR OWNER-OCCUPIED RESIDENTIAL PROPERTY.

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

SECTION 1. Section 12-43-220(c)(2)(i) of the 1976 Code, as last amended by Section 24, Act 431 of 1996, is further amended to read:

"(i) To qualify for the special property tax assessment ratio allowed by this item, the owner-occupant must have actually owned and occupied the residence as his legal residence and been domiciled at that address for some period during on or before December thirty-first preceding the applicable tax year for which the assessment ratio is first claimed and remain in that status at the time of filing the application required by this item."

SECTION 2. Upon approval of the Governor, this act is effective for property tax years beginning after 1998.