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A68, R84, H3354
Sponsors: Rep. Ballentine
Document Path: l:\council\bills\sm\20160sa21.docx
Introduced in the House on January 12, 2021
Introduced in the Senate on April 7, 2021
Last Amended on May 6, 2021
Passed by the General Assembly on May 12, 2021
Governor's Action: May 17, 2021, Signed
Summary: Property tax, exemptions
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 12/9/2020 House Prefiled 12/9/2020 House Referred to Committee on Ways and Means 1/12/2021 House Introduced and read first time (House Journal-page 168) 1/12/2021 House Referred to Committee on Ways and Means (House Journal-page 168) 3/18/2021 House Committee report: Favorable Ways and Means (House Journal-page 42) 4/6/2021 House Read second time (House Journal-page 86) 4/6/2021 House Roll call Yeas-107 Nays-4 (House Journal-page 86) 4/7/2021 House Read third time and sent to Senate (House Journal-page 14) 4/7/2021 Senate Introduced and read first time (Senate Journal-page 5) 4/7/2021 Senate Referred to Committee on Finance (Senate Journal-page 5) 5/5/2021 Senate Committee report: Favorable with amendment Finance (Senate Journal-page 8) 5/6/2021 Senate Committee Amendment Adopted (Senate Journal-page 41) 5/6/2021 Senate Read second time (Senate Journal-page 41) 5/6/2021 Senate Roll call Ayes-45 Nays-0 (Senate Journal-page 41) 5/11/2021 Senate Read third time and returned to House with amendments (Senate Journal-page 13) 5/12/2021 House Concurred in Senate amendment and enrolled (House Journal-page 66) 5/12/2021 House Roll call Yeas-107 Nays-1 (House Journal-page 66) 5/13/2021 Ratified R 84 5/17/2021 Signed By Governor 6/1/2021 Effective date 05/17/21 6/1/2021 Act No. 68
View the latest legislative information at the website
VERSIONS OF THIS BILL
(A68, R84, H3354)
AN ACT TO AMEND SECTION 12-37-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO EXEMPT A RENEWABLE ENERGY RESOURCE PROPERTY HAVING A NAMEPLATE CAPACITY OF AND OPERATING AT NO GREATER THAN TWENTY KILOWATTS, AND TO REMOVE PROVISIONS OF THE EXEMPTION FOR NONPROFIT HOUSING CORPORATIONS.
Be it enacted by the General Assembly of the State of South Carolina:
Property tax exemptions, renewable energy property
SECTION 1. Section 12-37-220(B) of the 1976 Code, as last amended by Act 145 of 2020, is further amended by adding an appropriately numbered item at the end to read:
"( ) a renewable energy resource property having a nameplate capacity of and operating at no greater than twenty kilowatts, as measured in alternating current. For purposes of this item, 'renewable energy resource' means property defined in Section 58-40-10. This definition includes, but is not limited to, all components that enhance the operational characteristics of the generating equipment, such as an advanced inverter or battery storage device, and equipment required to meet all applicable safety, performance, interconnection, and reliability standards established by the commission, the National Electrical Code, the National Electrical Safety Code, the Institute of Electrical and Electronics Engineers, Underwriters Laboratories, the Federal Energy Regulatory Commission, and any local governing authorities."
Property tax exemption, nonprofit housing
SECTION 2. Section 12-37-220(B)(11)(e) of the 1976 Code, as last amended by Act 145 of 2020, is further amended to read:
"(e) all property of nonprofit housing corporations or instrumentalities of these corporations when the property is devoted to providing housing to low or very low income residents. A nonprofit housing corporation or its instrumentality must satisfy the safe harbor provisions of Revenue Procedure 96-32 issued by the Internal Revenue Service for this exemption to apply. For purposes of this subitem, property of nonprofit housing corporations or instrumentalities of these corporations includes all leasehold interests in property owned by an entity that provides housing accommodations to persons of low or very low income, and in which a wholly owned affiliate or wholly owned instrumentality of a nonprofit housing corporation is the general partner, managing member, or the equivalent. However, the exemption allowed by this subitem only applies if the property of nonprofit housing corporations or instrumentalities of these corporations satisfies the safe harbor provisions of Revenue Procedure 96-32 issued by the Internal Revenue Service;"
SECTION 3. This act takes effect upon approval by the Governor and applies to property tax years beginning after 2020.
Ratified the 13th day of May, 2021.
Approved the 17th day of May, 2021.
This web page was last updated on June 14, 2021 at 9:18 AM