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Current Status Bill Number:View additional legislative information at the LPITS web site.543 Type of Legislation:General Bill GB Introducing Body:Senate Introduced Date:20010404 Primary Sponsor:Hayes All Sponsors:Hayes Drafted Document Number:l:\council\bills\gjk\20444sd01.doc Residing Body:Senate Current Committee:Finance Committee 06 SF Subject:Electric facility sales, transfers exempt from sales tax, deed recording fees; Property, Electricity, Taxation History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ Senate 20010404 Introduced, read first time, 06 SF referred to Committee Versions of This Bill
TO AMEND SECTION 12-24-40, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO EXEMPTIONS FROM DEED RECORDING FEES; AND SECTION 12-36-2120, RELATING TO EXEMPTIONS FROM SALES TAX, SO AS TO PROVIDE EXEMPTIONS FROM SALES TAX AND DEED RECORDING FEES FOR SALES, EXCHANGES, AND TRANSFERS OF ELECTRIC GENERATION, TRANSMISSION, AND DISTRIBUTION FACILITIES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-24-40 of the 1976 Code is amended by adding a new item (15) to read:
"(15) transferring title to facilities for generating, transmitting, delivering, or furnishing electricity that are transferred, sold, or exchanged by electrical utilities, municipalities, electric cooperatives, or political subdivisions;"
SECTION 2. Section 12-36-2120 of the 1976 Code is amended by adding a new item (59) to read:
"(59) facilities for generating, transmitting, delivering, or furnishing electricity that are transferred, sold, or exchanged by electrical utilities, municipalities, electric cooperatives, or political subdivisions;"
SECTION 3. This act takes effect upon approval by the Governor and applies with respect to sales or deeds made or recorded after this date.
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