South Carolina General Assembly
114th Session, 2001-2002

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Bill 3572

Indicates Matter Stricken
Indicates New Matter

                    Current Status

Bill Number:                      3572
Type of Legislation:              General Bill GB
Introducing Body:                 House
Introduced Date:                  20010215
Primary Sponsor:                  Bowers
All Sponsors:                     Bowers
Drafted Document Number:          l:\council\bills\pt\1091sd01.doc
Residing Body:                    House
Current Committee:                Ways and Means Committee 30 HWM
Subject:                          Property tax assessments, four percent 
                                  assessment ratio; certain property when 
                                  occupied may qualify for; Taxation


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
House   20010215  Introduced, read first time,           30 HWM
                  referred to Committee


              Versions of This Bill
View additional legislative information at the LPITS web site.

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A 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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