South Carolina General Assembly
123rd Session, 2019-2020

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Indicates Matter Stricken
Indicates New Matter

H. 4344

STATUS INFORMATION

General Bill
Sponsors: Reps. Herbkersman, Cobb-Hunter and Dillard
Document Path: l:\council\bills\nbd\11277dg19.docx

Introduced in the House on March 28, 2019
Currently residing in the House Committee on Ways and Means

Summary: Property tax exemptions

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
   3/28/2019  House   Introduced and read first time (House Journal-page 46)
   3/28/2019  House   Referred to Committee on Ways and Means 
                        (House Journal-page 46)
    4/2/2019  House   Member(s) request name added as sponsor: Dillard

View the latest legislative information at the website

VERSIONS OF THIS BILL

3/28/2019

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

A BILL

TO AMEND SECTION 12-37-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO EXEMPTIONS FROM PROPERTY TAX, SO AS TO EXEMPT ALL PROPERTY DEVOTED TO HOUSING LOW INCOME RESIDENTS IF THE PROPERTY IS OWNED BY AN INSTRUMENTALITY OF A NONPROFIT HOUSING CORPORATION.

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

SECTION    1.    Section 12-37-220(B)(11)(e) of the 1976 Code is amended to read:

"(e)    all property of nonprofit housing corporations or solely-owned instrumentalities of these corporations which when the property is devoted to providing housing to low or very low income residents. A nonprofit housing corporation or instrumentality must satisfy the safe harbor provisions of Revenue Procedure 96-32 issued by the Internal Revenue Service to qualify for this exemption to apply. For purposes of this subitem, partnerships, limited liability companies, or other corporations are instrumentalities if the nonprofit housing corporation is the controlling partner, controlling member, or controlling shareholder of the instrumentality. For purposes of this subitem, 'controlling' means the nonprofit house corporation is the partner, member, or shareholder of the instrumentality permitted to exercise substantial and continuous control over the provision of the low or very income housing. If a partnership, limited liability company, or other corporation is not a partner, member, or shareholder with a nonprofit housing corporation, then this exemption does not apply;"

SECTION    2.    This act takes effect upon approval by the Governor and applies to property tax years beginning after 2018.

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This web page was last updated on April 2, 2019 at 1:23 PM