South Carolina General Assembly
114th Session, 2001-2002

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Bill 4859

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COMMITTEE REPORT

May 2, 2002

    H. 4859

Introduced by Rep. Sharpe

S. Printed 5/2/02--H.

Read the first time March 6, 2002.

            

THE COMMITTEE ON WAYS AND MEANS

    To whom was referred a Bill (H. 4859) to amend Section 12-36-2120, as amended, Code of Laws of South Carolina, 1976, relating to sales tax exemptions, so as to extend to apiary products, etc., respectfully

REPORT:

    That they have duly and carefully considered the same and recommend that the same do pass:

ROBERT W. HARRELL, JR. for Committee.

            

STATEMENT OF ESTIMATED FISCAL IMPACT

REVENUE IMPACT 1/

    This bill is expected to reduce general fund revenue an estimated $47,000 in FY2002-03. Of this amount, general fund sales and use tax would be decreased by $37,600, and E.I.A. funds would be decreased by $9,400 in FY2002-03.

Explanation

    This bill would amend Section 12-36-2120(23) to extend a sales and use tax exemption to the production of apiary products. According to the latest data from the U.S. Department of Agricultural, National Agricultural Statistics Service, the state produced 810,000 pounds of honey at an average price per pound of $1.16 yielding a total value of production of $940,000. Based on data from the U.S. Department of Agricultural, South Carolina ranked 45th nationally in honey production in 2001. Multiplying the total value of honey production of $940,000 by a sales and use tax rate of five percent, yields a reduction of general fund revenue of an estimated $47,000 in FY2002-03.

    Approved By:

    William C. Gillespie

    Board of Economic Advisors

1/ This statement meets the requirement of Section 2-7-71 for a state revenue impact, Section 2-7-76 for a local revenue impact, and Section 6-1-85(B) for an estimate of the shift in local property tax incidence.

A BILL

TO AMEND SECTION 12-36-2120, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO SALES TAX EXEMPTIONS, SO AS TO EXTEND TO APIARY PRODUCTS THE EXEMPTION FOR FARM, GROVE, VINEYARD, AND GARDEN PRODUCTS SOLD IN THE ORIGINAL STATE OF PRODUCTION BY THE PRODUCER OR THE PRODUCER'S IMMEDIATE FAMILY.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Section 12-36-2120(23) of the 1976 Code is amended to read:

    "(23)    farm, grove, vineyard, and garden, and apiary products, if sold in the original state of production or preparation for sale, when sold by the producer or by members of the producer's immediate family;"

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

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