South Carolina General Assembly
123rd Session, 2019-2020

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S. 207

STATUS INFORMATION

General Bill
Sponsors: Senator Young
Document Path: l:\s-res\try\002reas.sp.try.docx
Companion/Similar bill(s): 619

Introduced in the Senate on January 8, 2019
Introduced in the House on January 23, 2019
Currently residing in the House Committee on Labor, Commerce and Industry

Summary: Assessment ratios

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
  12/12/2018  Senate  Prefiled
  12/12/2018  Senate  Referred to Committee on Finance
    1/8/2019  Senate  Introduced and read first time (Senate Journal-page 134)
    1/8/2019  Senate  Referred to Committee on Finance 
                        (Senate Journal-page 134)
   1/16/2019  Senate  Committee report: Favorable Finance 
                        (Senate Journal-page 7)
   1/17/2019          Scrivener's error corrected
   1/22/2019  Senate  Read second time (Senate Journal-page 17)
   1/22/2019  Senate  Roll call Ayes-42  Nays-0 (Senate Journal-page 17)
   1/23/2019  Senate  Read third time and sent to House 
                        (Senate Journal-page 10)
   1/23/2019  House   Introduced and read first time (House Journal-page 12)
   1/23/2019  House   Referred to Committee on Labor, Commerce and Industry 
                        (House Journal-page 12)

View the latest legislative information at the website

VERSIONS OF THIS BILL

12/12/2018
1/16/2019
1/17/2019

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

COMMITTEE REPORT

January 16, 2019

S. 207

Introduced by Senator Young

S. Printed 1/16/19--S.    [SEC 1/17/19 12:13 PM]

Read the first time January 8, 2019.

            

THE COMMITTEE ON FINANCE

To whom was referred a Bill (S. 207) to amend Section 12-43-220(c)(2) of the 1976 Code, relating to programs and uniform assessment ratios for county equalization and reassessment, etc., respectfully

REPORT:

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

HUGH K. LEATHERMAN, SR. for Committee.

            

STATEMENT OF ESTIMATED FISCAL IMPACT

Explanation of Fiscal Impact

Local Revenue

This bill establishes that an owner, who is entitled to the special four percent assessment ratio for an owner-occupied residential property and becomes a patient in a nursing home or a community residential care facility, both defined in Section 44-7-130, retains the four percent assessment ratio. This is as long as the owner otherwise qualifies, has an intention to return to the property, and the property is not rented in excess of seventy-two days in a year, per Section 12-43-220(c)(2).

Based on prior conversations with assessors, the general practice among counties is to allow such a taxpayer to retain the owner-occupied residential assessment as long as the owner intends to return home and the property is not rented for longer than Section 12-43-220(c)(2) allows. There may be a few incidences where this has not been the case. However, as these cases are few, they are not likely to have a significant impact on local revenue.

Frank A. Rainwater, Executive Director

Revenue and Fiscal Affairs Office

A BILL

TO AMEND SECTION 12-43-220(c)(2) OF THE 1976 CODE, RELATING TO PROGRAMS AND UNIFORM ASSESSMENT RATIOS FOR COUNTY EQUALIZATION AND REASSESSMENT, TO PROVIDE THAT AN OWNER ELIGIBLE FOR AND RECEIVING THE SPECIAL ASSESSMENT PURSUANT TO SECTION 12-43-220(c) WHO IS RESIDING AT A NURSING HOME RETAINS THE SPECIAL ASSESSMENT RATIO OF FOUR PERCENT FOR AS LONG AS THE OWNER REMAINS IN THE NURSING HOME.

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

SECTION    1.    Section 12-43-220(c)(2) of the 1976 Code is amended by adding a subitem at the end to read:

"(ix)        If an owner who is entitled to the special assessment ratio for owner-occupied residential property allowed pursuant to this item (c), becomes a patient at a nursing home or a community residential care facility, then the owner retains the four percent assessment ratio and applicable exemptions for as long as the owner remains in the home or facility so long as the owner otherwise qualifies, has an intention of returning to the property, and the property is not rented in excess of the amount allowed by this subitem(c)(2). For purposes of this subitem, nursing home and community residential care facility have the same meaning as provided in Section 44-7-130."

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

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This web page was last updated on March 6, 2019 at 4:00 PM