South Carolina General Assembly
120th Session, 2013-2014

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Indicates Matter Stricken
Indicates New Matter

H. 4807

STATUS INFORMATION

General Bill
Sponsors: Rep. Edge
Document Path: l:\council\bills\bbm\9033htc14.docx
Companion/Similar bill(s): 4301

Introduced in the House on February 27, 2014
Currently residing in the House Committee on Ways and Means

Summary: Corporate license tax credit

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
   2/27/2014  House   Introduced and read first time (House Journal-page 50)
   2/27/2014  House   Referred to Committee on Ways and Means 
                        (House Journal-page 51)

View the latest legislative information at the website

VERSIONS OF THIS BILL

2/27/2014

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

A BILL

TO AMEND SECTION 12-20-105, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE CORPORATE LICENSE TAX CREDIT ALLOWED FOR CASH CONTRIBUTIONS TO PROVIDE INFRASTRUCTURE FOR ELIGIBLE PROJECTS, SO AS TO INCLUDE IN THE DEFINITION OF "ELIGIBLE PROJECT" A MUNICIPAL OR COUNTY-OWNED, MULTIUSE SPORTS AND RECREATIONAL COMPLEX LOCATED IN A COUNTY IN WHICH HAS BEEN COLLECTED AT LEAST FIVE MILLION DOLLARS IN A FISCAL YEAR IN STATE-IMPOSED ACCOMMODATIONS TAX AND TO FURTHER DEFINE "INFRASTRUCTURE" FOR PURPOSES OF A MULTIUSE SPORTS AND RECREATIONAL COMPLEX.

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

SECTION    1.    A.        Section 12-20-105(B) of the 1976 Code is amended by adding a new item at the end to read:

"(3)    In a county in which at least five million dollars in state accommodations tax imposed pursuant to Section 12-36-920 has been collected in at least one fiscal year, a county or municipality-owned multiuse sports and recreational complex is considered an 'eligible project' promoting economic development for all purposes of the credit allowed pursuant to this section."

B.    Section 12-20-105 of the 1976 Code is amended by adding a new subsection at the end to read:

"(I)    For the purposes of this section, for a qualifying project pursuant to subsection (B)(3), infrastructure includes all applicable provisions of subsection (C) applying to the development and construction of the sports and recreational complex and further includes costs of land acquisition and preparation, construction of facilities and venues in the complex, improvements and upgrades to existing facilities and venues, and any other capital costs incurred in the acquisition, construction, and operation of the complex."

SECTION    2.    This act takes effect upon approval by the Governor and applies for contributions made for a multiuse sports and recreational complex placed in service after 2011.

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This web page was last updated on March 5, 2014 at 9:06 AM