Download This Bill in Microsoft Word format

Bill 171

                    Current Status

Bill Number:                      171
Type of Legislation:              General Bill GB
Introducing Body:                 Senate
Introduced Date:                  19990112
Primary Sponsor:                  McConnell
All Sponsors:                     McConnell, Elliott
Drafted Document Number:          l:\s-res\gfm\001trus.jh.doc
Residing Body:                    Senate
Current Committee:                Finance Committee 06 SF
Subject:                          Property tax exemptions, charitable 
                                  trusts property when no profit produced for 
                                  stockholders, Organizations


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
Senate  19990112  Introduced, read first time,           06 SF
                  referred to Committee
Senate  19981216  Prefiled, referred to Committee        06 SF


                             Versions of This Bill

TO AMEND SECTION 12-37-220, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO GENERAL EXEMPTIONS FROM TAXATION, SO AS TO CREATE AN EXEMPTION FROM TAXATION FOR REAL PROPERTY OWNED BY CHARITABLE TRUSTS AND FOUNDATIONS WHEN THE PROPERTY DOES NOT PRODUCE PROFIT OR BENEFIT FOR PRIVATE STOCKHOLDERS OR INDIVIDUALS AND NO INCOME PRODUCING VENTURES ARE LOCATED ON THE CHARITABLE TRUSTS AND FOUNDATIONS' REAL PROPERTY.

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:

"(42) All real property of charitable trusts and foundations which extends beyond the buildings and premises actually occupied by the charitable trusts and foundations which own the real property if no profit or benefit from any operation on the charitable trusts and foundations' real property inures to the benefit of any private stockholder or individual and no income producing ventures are located on the charitable trusts and foundations' real property. This exemption does not change any exemption provided for charitable trusts and foundations in item (4) of subsection (A) of this section and item (d), Section 3, Article X of the Constitution of this State but is an additional exemption for charitable trusts and foundations as provided in this item."

SECTION 2. This act takes effect upon approval by the Governor.

This web page was last updated on Wednesday, December 9, 2009 at 9:04 A.M.