Current Status Bill Number:
575Ratification Number: 200Act Number: 126Type of Legislation: General Bill GBIntroducing Body: SenateIntroduced Date: 19970326Primary Sponsor: RybergAll Sponsors: RybergDrafted Document Number: kgh\15025htc.97Date Bill Passed both Bodies: 19970604Governor's Action: SDate of Governor's Action: 19970611Subject: Property tax exemptions, nonprofit entities, structure for disadvantaged; Taxation, Charitable Organizations
Body Date Action Description Com Leg Involved ______ ________ _______________________________________ _______ ____________ ------ 19970630 Act No. A126 ------ 19970611 Signed by Governor ------ 19970609 Ratified R200 House 19970604 Read third time, enrolled for ratification House 19970603 Read second time House 19970603 Debate adjourned House 19970528 Recalled from Committee 30 HWM House 19970422 Introduced, read first time, 30 HWM referred to Committee Senate 19970418 Read third time, sent to House Senate 19970417 Read second time, unanimous consent for third reading on Friday, 19970418 Senate 19970416 Recalled from Committee, 06 SF placed on the Calendar Senate 19970326 Introduced, read first time, 06 SF referred to CommitteeView additional legislative information at the LPITS web site.
(A126, R200, S575)
AN ACT TO AMEND SECTION 12-37-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO DELETE THE FIVE-YEAR LIMIT ON THE EXEMPTION ALLOWED PROPERTY ACQUIRED BY NONPROFIT ENTITIES FOR THE PURPOSE OF BUILDING OR RENOVATING RESIDENTIAL STRUCTURES FOR DISADVANTAGED PERSONS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-37-220(B)(16)(b) of the 1976 Code, as last amended by Act 431 of 1996, is further amended to read:
"(b) The property of any religious, charitable, or eleemosynary society, corporation, or other association when the property is acquired for the purpose of building or renovating residential structures on it for not-for-profit sale to economically disadvantaged persons. The total properties for which the religious, charitable, or eleemosynary society, corporation, or other association may claim this exemption in accordance with this paragraph may not exceed fifty acres per county within the State."
SECTION 2. This act is effective for property tax years beginning after 1996.
Approved the 11th day of June, 1997.