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Current Status Bill Number:View additional legislative information at the LPITS web site.3206 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19990112 Primary Sponsor:Bowers All Sponsors:Bowers Drafted Document Number:l:\council\bills\gjk\20097sd99.doc Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Property tax assessments, rental-occupant to qualify for four percent ratio under certain conditions; Taxation History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ House 19990112 Introduced, read first time, 30 HWM referred to Committee House 19990106 Prefiled, referred to Committee 30 HWM Versions of This Bill
TO AMEND SECTION 12-43-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO CLASSIFICATION OF PROPERTY FOR AD VALOREM TAX PURPOSES AND THE ASSESSMENT RATIOS APPLICABLE TO SUCH PROPERTY, SO AS TO PROVIDE THAT RESIDENTIAL PROPERTY WHICH A RENTAL-OCCUPANT OCCUPIES AS HIS PRINCIPAL RESIDENCE ON THE SAME BASIS AS AN OWNER-OCCUPANT, EXCEPT FOR THE FACT THAT OWNERSHIP IS VESTED IN ANOTHER PERSON, ALSO QUALIFIES FOR THE FOUR PERCENT ASSESSMENT RATIO.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-43-220(c) of the 1976 Code, as last amended by Act 459 of 1996, is further amended by adding a new item (6) to read:
"(6) In addition to the above provisions of this subsection, residential property which a rental-occupant occupies as his principal residence on the same basis as an owner-occupant, except for the fact that ownership is vested in another person, also qualifies for the four percent assessment ratio."
SECTION 2. This act takes effect upon approval by the Governor.
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