Bill 4672

                    Current Status

Bill Number:                    4672
Ratification Number:            467
Act Number:                     340
Type of Legislation:            General Bill GB
Introducing Body:               House
Introduced Date:                19980219
Primary Sponsor:                Edge
All Sponsors:                   Edge, Kelley, Keegan, Mullen,
                                Barfield 
Drafted Document Number:        psd\7197mm.98
Companion Bill Number:          1120
Date Bill Passed both Bodies:   19980603
Date of Last Amendment:         19980527
Governor's Action:              S
Date of Governor's Action:      19980609
Subject:                        Sales tax exemptions, vacation
                                time sharing plan, multiple ownership
                                interest; Taxation, Property, Gambling,
                                Bingo

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

------  19980617  Act No. A340
------  19980609  Signed by Governor
------  19980604  Ratified R467
House   19980603  Concurred in Senate amendment,
                  enrolled for ratification
Senate  19980527  Read third time, returned to House
                  with amendment
Senate  19980527  Amended
Senate  19980526  Read second time, notice of
                  general amendments
Senate  19980521  Recalled from Committee,                 06 SF
                  placed on the Calendar
Senate  19980327  Introduced, read first time,             06 SF
                  referred to Committee
House   19980326  Read third time, sent to Senate
House   19980325  Read second time
House   19980325  Co-Sponsor added (Rule 5.2) by Rep.              Barfield
House   19980319  Committee report: Favorable              30 HWM
House   19980219  Introduced, read first time,             30 HWM
                  referred to Committee

(A340, R467, H4672)

AN ACT TO AMEND SECTION 12-36-2120, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO EXEMPTIONS FROM SALES TAX, SECTION 27-32-170, RELATING TO EXEMPTION FROM SALES TAX OF SALE OF A VACATION TIME SHARING PLAN, AND SECTION 27-32-250, AS AMENDED, RELATING TO EXEMPTION FROM SALES TAX OF SALE OF A VACATION MULTIPLE OWNERSHIP INTEREST, ALL SO AS TO EXEMPT FROM SALES TAX THE SALE OR RESALE OR THE EXCHANGE OF AN INTEREST IN A VACATION TIME SHARING PLAN OR A VACATION MULTIPLE OWNERSHIP INTEREST; TO AMEND SECTION 12-21-4020, AS AMENDED, RELATING TO CLASSES OF BINGO LICENSES, SO AS TO ALLOW CERTAIN CLASS D LICENSEES TO USE HARD BINGO CARDS; AND TO AMEND SECTION 12-21-4090, RELATING TO BINGO CHECKING AND SAVINGS ACCOUNTS, SO AS TO EXCEPT THE HOLDER OF A CLASS D FAIR BINGO LICENSEE FROM ITS PROVISIONS.

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

Exemptions from sales tax

SECTION 1. Section 12-36-2120(31) of the 1976 Code is amended to read:

(31) vacation time sharing plans, vacation multiple ownership interests, and exchanges of interests in vacation time sharing plans and vacation multiple ownership interests as provided by Chapter 32 of Title 27, and any other exchange of accommodations in which the accommodations to be exchanged are the primary consideration;

Sales of vacation time sharing plan

SECTION 2. Section 27-32-170 of the 1976 Code is amended to read:

"Section 27-32-170. The gross proceeds from the sale or resale of a vacation time sharing plan and the exchange of an interest in a vacation time sharing plan are exempt from sales tax imposed by Chapter 36 of Title 12 pursuant to the provisions of Section 12-36-2120."

Sales of vacation multiple ownership interest

SECTION 3. Section 27-32-250(2) of the 1976 Code is amended to read:

"(2) The sale or resale of any vacation multiple ownership interest and the exchange of an interest in a vacation multiple ownership interest is exempt from sales tax imposed by Chapter 36 of Title 12 pursuant to the provisions of Section 12-36-2120."

Classes of bingo licenses

SECTION 4. Section 12-21-4020(4) of the 1976 Code, as amended by Act 285 of 1998, is further amended to read:

"(4) CLASS D: A person, organization, or corporation desiring to conduct a bingo game at a fair as defined in Section 12-21-3920 and who offers prizes for each game of no more than fifty dollars in merchandise shall obtain only a temporary Class D bingo license at a cost of one hundred dollars for not more than ten days or two hundred dollars for more than ten days. The department, in its discretion, may allow certain Class D licensees to use hard bingo cards in lieu of the paper cards required by this article."

Bingo checking and savings account

SECTION 5. Section 12-21-4090(A) of the 1976 Code, as added by Act 449 of 1996, is amended to read:

"(A) The provisions of this section apply to the licensed nonprofit organization which is responsible for the special checking and savings accounts established by this section. The provisions of this section do not apply to the holder of a Class D fair bingo license."

Time effective

SECTION 6. This act takes effect upon approval by the Governor.

Approved the 9th day of June, 1998.