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H. 4469

STATUS INFORMATION

General Bill
Sponsors: Reps. Herbkersman and Simrill
Document Path: l:\council\bills\ggs\22364htc04.doc

Introduced in the House on January 13, 2004
Currently residing in the House Committee on Ways and Means

Summary: Municipalities, property transfer fees, designated purposes

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
  12/17/2003  House   Prefiled
  12/17/2003  House   Referred to Committee on Ways and Means
   1/13/2004  House   Introduced and read first time HJ-85
   1/13/2004  House   Referred to Committee on Ways and Means HJ-86

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

12/17/2003

TO AMEND SECTION 6-1-70, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE PROHIBITION ON THE IMPOSITION OF A FEE OR TAX ON THE TRANSFER OF REAL PROPERTY, SO AS TO AUTHORIZE A MUNICIPALITY TO IMPOSE THE TAX OR FEE IF ANOTHER MUNICIPALITY LOCATED IN THE SAME COUNTY WAS IMPOSING THE FEE BEFORE JANUARY 1, 1991, BY PETITION AND APPROVAL OF THE LEGISLATIVE DELEGATION OF THAT COUNTY, AND TO ALLOW A COUNTY OR MUNICIPALITY TO IMPOSE A TRANSFER FEE IN AN AMOUNT NOT TO EXCEED ONE-QUARTER OF ONE PERCENT OF THE VALUE OF THE REAL PROPERTY, AND TO REQUIRE FEE PROCEEDS TO BE CREDITED TO A SEPARATE FUND AND USED EXCLUSIVELY TO ACQUIRE OR IMPROVE OPEN SPACES WITHIN THE APPLICABLE JURISDICTION.

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

SECTION    1.    Section 6-1-70(B) of the 1976 Code, as last amended by Section 72A, Part II, Act 155 of 1997, is further amended to read:

"(B)(1)    A municipality that originally enacted a real estate transfer fee prior to before January 1, 1991, may impose and collect a real estate transfer fee, by ordinance, regardless of whether imposition of the fee was discontinued for a period after January 1, 1991.

(2)    A municipality that is located in a county in which is located a municipality that was imposing a fee or tax on the transfer of real property before January 1, 1991, may impose and collect a real estate transfer fee, by ordinance, regardless of whether imposition of the fee was discontinued for a period after January 1, 1991, by petition and approval of the legislative delegation of that county.

(3)    The governing body of a county or municipality, by ordinance, may impose a transfer fee on the transfer of real property. In the case of a county, the fee may be imposed only for real property situated in the unincorporated area of the county. The fee may not exceed one quarter of one percent of the real property's value, subject to the same exemptions applicable to the deed recording fee imposed pursuant to Chapter 24, Title 12. The revenue of the fee must be credited to a separate segregated fund in the county or municipal treasury and used exclusively for the purpose of acquiring and improving open spaces in the applicable jurisdiction."

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

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