H*3747(Rat #0291, Act #0235 of 2012)  General Bill, By Cooper
 AN ACT TO AMEND SECTION 12-36-2120, AS AMENDED, CODE OF LAWS OF SOUTH
 CAROLINA, 1976, RELATING TO SALES TAX EXEMPTIONS, SO AS TO EXEMPT INJECTABLE
 MEDICATIONS AND INJECTABLE BIOLOGICS SO LONG AS THE MEDICATION OR BIOLOGIC IS
 ADMINISTERED BY OR PURSUANT TO THE SUPERVISION OF A PHYSICIAN IN AN OFFICE
 WHICH IS UNDER THE SUPERVISION OF A PHYSICIAN, OR IN A CENTER FOR MEDICARE OR
 MEDICAID SERVICES (CMS) CERTIFIED KIDNEY DIALYSIS FACILITY, AND TO DEFINE
 "BIOLOGICS" FOR THE PURPOSES OF THE EXEMPTION. - ratified title

   02/24/11  House  Introduced and read first time (House Journal-page 11)
   02/24/11  House  Referred to Committee on Ways and Means
                     (House Journal-page 11)
   04/06/11  House  Committee report: Favorable with amendment Ways
                     and Means (House Journal-page 57)
   04/13/11  House  Amended (House Journal-page 56)
   04/13/11  House  Read second time (House Journal-page 56)
   04/13/11  House  Roll call Yeas-91  Nays-6 (House Journal-page 56)
   04/14/11  House  Read third time and sent to Senate
                     (House Journal-page 11)
   04/14/11  Senate Introduced and read first time (Senate Journal-page 10)
   04/14/11  Senate Referred to Committee on Finance
                     (Senate Journal-page 10)
   05/30/12  Senate Committee report: Favorable with amendment
                     Finance (Senate Journal-page 11)
   05/31/12  Senate Committee Amendment Adopted (Senate Journal-page 63)
   05/31/12  Senate Read second time (Senate Journal-page 63)
   05/31/12  Senate Roll call Ayes-35  Nays-3 (Senate Journal-page 63)
   05/31/12  Senate Unanimous consent for third reading on next
                     legislative day (Senate Journal-page 63)
   06/01/12  Senate Read third time and returned to House with
                     amendments (Senate Journal-page 3)
   06/06/12  House  Debate adjourned (House Journal-page 113)
   06/06/12  House  Concurred in Senate amendment and enrolled
                     (House Journal-page 182)
   06/06/12  House  Roll call Yeas-105  Nays-0 (House Journal-page 182)
   06/12/12         Ratified R 291
   06/18/12         Signed By Governor
   06/20/12         Effective date 06/18/12
   06/26/12         Act No. 235

H. 3747

(A235, R291, H3747)

AN ACT TO AMEND SECTION 12-36-2120, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO SALES TAX EXEMPTIONS, SO AS TO EXEMPT INJECTABLE MEDICATIONS AND INJECTABLE BIOLOGICS SO LONG AS THE MEDICATION OR BIOLOGIC IS ADMINISTERED BY OR PURSUANT TO THE SUPERVISION OF A PHYSICIAN IN AN OFFICE WHICH IS UNDER THE SUPERVISION OF A PHYSICIAN, OR IN A CENTER FOR MEDICARE OR MEDICAID SERVICES (CMS) CERTIFIED KIDNEY DIALYSIS FACILITY, AND TO DEFINE "BIOLOGICS" FOR THE PURPOSES OF THE EXEMPTION.

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

Certain injectable medications and injectable biologics exempted from sales tax

SECTION    1.    Section 12-36-2120 of the 1976 Code, as last amended by Act 280 of 2010, is further amended by adding a new item at the end to read:

"( )(a)    Effective on July first immediately following a forecast meeting the requirements of subitem (b), injectable medications and injectable biologics, so long as the medication or biologic is administered by or pursuant to the supervision of a physician in an office which is under the supervision of a physician, or in a Center for Medicare or Medicaid Services (CMS) certified kidney dialysis facility. For purposes of this exemption, 'biologics' means the products that are applicable to the prevention, treatment, or cure of a disease or condition of human beings and that are produced using living organisms, materials derived from living organisms, or cellular, subcellular, or molecular components of living organisms.

(b)    Beginning with the February 15, 2013, forecast by the Board of Economic Advisors of annual general fund revenue growth for the upcoming fiscal year, and annually thereafter until the conditions of this item are met, if the forecast of that growth equals at least two percent of the most recent estimate by the board of general fund revenues for the current fiscal year, then on July first, the exemption described in subitem (a) shall apply to fifty percent of the gross proceeds of sales of the described items. Beginning the next July first, the exemption shall apply to one hundred percent of the gross proceeds of sales of the described items. If the February fifteenth forecast meets the requirement for a rate reduction, the board promptly shall certify this result in writing to the Department of Revenue."

Time effective

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

Ratified the 12th day of June, 2012.

Approved the 18th day of June, 2012.