South Carolina General Assembly
124th Session, 2021-2022

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H. 4064

STATUS INFORMATION

General Bill
Sponsors: Reps. G.M. Smith, Sandifer and Weeks
Document Path: l:\council\bills\nbd\11209dg21.docx

Introduced in the House on March 11, 2021
Introduced in the Senate on April 7, 2021
Last Amended on April 20, 2021
Currently residing in the House

Summary: Manufacturing exemption exclusion

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
   3/11/2021  House   Introduced and read first time (House Journal-page 12)
   3/11/2021  House   Referred to Committee on Ways and Means 
                        (House Journal-page 12)
   3/17/2021  House   Member(s) request name added as sponsor: Weeks
   3/18/2021  House   Committee report: Favorable with amendment Ways and 
                        Means (House Journal-page 42)
    4/6/2021  House   Amended (House Journal-page 89)
    4/6/2021  House   Read second time (House Journal-page 89)
    4/6/2021  House   Roll call Yeas-112  Nays-0 (House Journal-page 90)
    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 11)
    4/7/2021  Senate  Referred to Committee on Finance (Senate Journal-page 11)
   4/14/2021  Senate  Committee report: Favorable with amendment Finance 
                        (Senate Journal-page 9)
   4/15/2021          Scrivener's error corrected
   4/20/2021  Senate  Committee Amendment Adopted (Senate Journal-page 24)
   4/20/2021  Senate  Read second time (Senate Journal-page 24)
   4/20/2021  Senate  Roll call Ayes-44  Nays-0 (Senate Journal-page 24)
   4/21/2021  Senate  Read third time and returned to House with amendments

View the latest legislative information at the website

VERSIONS OF THIS BILL

3/11/2021
3/18/2021
4/6/2021
4/14/2021
4/15/2021
4/20/2021

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

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Indicates New Matter

COMMITTEE AMENDMENT ADOPTED

April 20, 2021

H. 4064

Introduced by Reps. G.M. Smith, Sandifer and Weeks

S. Printed 4/20/21--S.

Read the first time April 7, 2021.

            

A BILL

TO AMEND SECTION 12-37-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO CLARIFY THAT MANUFACTURING PROPERTY OWNED OR LEASED BY A PUBLIC UTILITY REGULATED BY THE PUBLIC SERVICE COMMISSION DOES NOT QUALIFY FOR A 14.2857 PERCENT EXEMPTION.

Amend Title To Conform

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

SECTION    1.    Section 12-37-220(B)(52)(a) of the 1976 Code is amended to read:

"(a)(i)    14.2857 percent of the property tax value of manufacturing property assessed for property tax purposes pursuant to Section 12-43-220(a)(1). The exemption allowed by this item does not apply to property owned or leased by a public utility, as defined in Section 58-3-5, that is regulated by the Public Service Commission, regardless of whether the property is used for manufacturing. For purposes of this item, if the exemption is applied to real property, then it must be applied to the property tax value as it may be adjusted downward to reflect the limit imposed pursuant to Section 6, Article X of the South Carolina Constitution, 1895;

(ii)    To the extent any such monies are refunded or otherwise credited under this item to a public utility that is regulated by the Public Service Commission, regardless of whether the property is used for manufacturing, any such refund or credits must be flowed through to customers as a reduction in rates, as appropriate."

SECTION    2.    There is appropriated sixty-seven million fifty-five thousand dollars from the Fiscal Year 2019-20 Contingency Reserve Fund to the Trust Fund for Tax Relief. The Board of Economic Advisors is directed to make any necessary adjustments among its forecasts for recurring and non-recurring revenue resulting from the appropriation contained herein.

SECTION    3.    This act takes effect upon approval by the Governor and first applies to property tax years beginning after 2020.

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This web page was last updated on April 21, 2021 at 5:49 PM