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COMMITTEE REPORT
April 23, 2008
S. 1143
Introduced by Senators McConnell, Martin, Alexander, Hayes, Hutto, Ceips, Peeler, Leventis, Rankin and Setzler
S. Printed 4/23/08--S.
Read the first time February 21, 2008.
To whom was referred a Bill (S. 1143) to amend Section 12-36-2120, Code of Laws of South Carolina, 1976, relating to exemptions from the state sales tax, so as to include the gross, etc., respectfully
That they have duly and carefully considered the same and recommend that the same do pass with amendment:
Amend the bill, as and if amended, page 1, by striking lines 41 and 42, and page 2, by striking lines 1 through 10 and inserting:
/ (c) The exemption provided in this item applies only to sales occurring during a period commencing at 12:01 A.M. on October 1, 2009, and concluding at 12:00 Midnight on October 31, 2009 (National 'Energy Efficiency Month') and every year thereafter until 2019.
(d) Each year until 2019, the State Energy Office shall prepare an annual report on the fiscal and energy impacts of the October first through October thirty first exemption and submit the report to the General Assembly no later than January first of the following year.
(e) Beginning with the February 15, 2009, forecast by the Board of Economic Advisors of annual general fund revenue growth for the upcoming fiscal year, and annually after that, if the forecast of that growth then and in any adjusted forecast made before the beginning of the fiscal year equals at least five percent of the most recent estimate by the board of general fund revenues for the current fiscal year, then the exemption allowed by this item shall be allowed for the applicable year. If the February fifteenth forecast or adjusted forecast annual general fund revenue growth for the upcoming fiscal year meets the requirement for the credit, the board promptly shall certify this result in writing to the department."
SECTION 2. This act takes effect July 1, 2009. /
Renumber sections to conform.
Amend title to conform.
HUGH K. LEATHERMAN, SR. for Committee.
TO AMEND SECTION 12-36-2120, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO EXEMPTIONS FROM THE STATE SALES TAX, SO AS TO INCLUDE THE GROSS PROCEEDS OF SALES OR THE SALES PRICE OF ENERGY EFFICIENT APPLIANCES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-36-2120 of the 1976 Code is amended by adding an appropriately numbered item at the end to read:
"( ) Energy efficient products purchased for noncommercial home or personal use with a sales price of two thousand five hundred dollars per product or less.
(a) For the purposes of this exemption, an 'energy efficient product' is any energy efficient product for noncommercial home or personal use consisting of any dishwasher, clothes washer, air conditioner, ceiling fan, fluorescent light bulb, dehumidifier, programmable thermostat, refrigerator, door, or window, the energy efficiency of which has been designated by the United States Environmental Protection Agency and the United States Department of Energy as meeting or exceeding each agency's energy-saving efficiency requirements or which have been designated as meeting or exceeding such requirements under each agency's ENERGY STAR program, and gas, oil, or propane water heaters with an energy factor of 0.80 or greater and electric water heaters with an energy factor of 2.0 or greater.
(b) This exemption shall not apply to purchases of energy efficient products purchased for trade, business, or resale.
(c) This exemption applies only to sales occurring during a period commencing at 12:01 A.M. on October 1, 2008, and concluding at 12:00 Midnight on October 31, 2008 (National 'Energy Efficiency Month'), and 12:01 A.M. on April 1, 2009, and concluding at 12:00 Midnight on April 30, 2009 (National 'Earth Month').
(d) The State Energy Office shall prepare a report on the fiscal and energy impacts of the October 1, 2008, through October 31, 2008 exemption and submit the report to the General Assembly no later than January 1, 2009."
SECTION 2. This act takes effect upon approval by the Governor.
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