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Indicates Matter Stricken
Indicates New Matter
Indicates Matter Stricken
Indicates New Matter
COMMITTEE REPORT
March 9, 2005
S. 205
S. Printed 3/9/05--S. [SEC 3/10/05 2:59 PM]
Read the first time January 12, 2005.
To whom was referred a Bill (S. 205) to amend Section 12-37-220 of the 1976 Code, relating to property tax exemptions, to add the Marine Corps League to the list of veterans organizations exempt from, etc., respectfully
That they have duly and carefully considered the same and recommend that the same do pass:
HUGH K. LEATHERMAN, SR. for Committee.
REVENUE IMPACT 1/
This bill is not expected to have an impact on state or local revenues in FY 2006.
Explanation
Under current law, all property owned by the American Legion, the Veterans of Foreign Wars, the Spanish American War Veterans, the Disabled American Veterans and Fleet Reserve Association or any similar Veterans Organization chartered by the Congress of the United States used exclusively for the purposes of such organizations is exempt from ad valorem taxes. This bill would extend this exemption to property of the Marine Corps League.
The Marine Corps League is classified as a veterans/military service organization that was chartered by an Act of Congress in 1937 and should already be exempt from ad valorem taxes under this Section if they apply. Adding language specifically naming the Marine Corps League as exempt from ad valorem taxes under this Section would clarify that the Marine Corps League qualifies for this exemption. Since the Marine Corps League should already qualify for this exemption as any similar Veteran's Organization chartered by the Congress of the United States, this bill is not expected to have any impact on state or local revenues in FY 2006.
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 by the BEA, or Section 2-7-76 for a local revenue impact or Section 6-1-85(B) for an estimate of the shift in local property tax incidence by the Office of Economic Research.
TO AMEND SECTION 12-37-220 OF THE 1976 CODE, RELATING TO PROPERTY TAX EXEMPTIONS, TO ADD THE MARINE CORPS LEAGUE TO THE LIST OF VETERANS ORGANIZATIONS EXEMPT FROM THE AD VALOREM TAX.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-37-220(B)(5) of the 1976 Code is amended to read:
"(5) All property of the American Legion, the Veterans of Foreign Wars, the Spanish American War Veterans, the Disabled American Veterans, and Fleet Reserve Association, and the Marine Corps League or any similar Veterans Organization chartered by the Congress of the United States, whether belonging to the department or to any of the posts in this State when used exclusively for the purpose of such organization and not used for any purpose other than club rooms, offices, meeting places, or other activities directly in keeping with the policy stated in the National Constitution of such organization, and such property is devoted entirely to its own uses and not held for `pecuniary profit'. For the purposes of this item `pecuniary profit' refers to income received from the sale of alcoholic beverages to persons other than bona fide members and their bona fide guests, or any income, any part of which inures to the benefit of any private individual. Where any structure or parcel of land is used partly for the purposes of such organization and partly for such pecuniary profits, the area for pecuniary profits shall be assessed separately and that portion shall be taxed."
SECTION 2. This act takes effect upon approval by the Governor.
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