South Carolina General Assembly
118th Session, 2009-2010

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H. 4462

STATUS INFORMATION

General Bill
Sponsors: Rep. Bowers
Document Path: l:\council\bills\swb\6003sd10.docx

Introduced in the House on January 28, 2010
Currently residing in the House Committee on Ways and Means

Summary: Residences

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
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   1/28/2010  House   Introduced and read first time HJ-5
   1/28/2010  House   Referred to Committee on Ways and Means HJ-5

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

1/28/2010

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

A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-37-227 SO AS TO PROVIDE THAT THE ASSESSMENT RATIO ON A RESIDENCE WHICH AN OWNER MAINTAINS FOR A PARENT WHO OCCUPIES IT AS THEIR PRINCIPAL RESIDENCE SHALL BE FOUR PERCENT UNDER CERTAIN CONDITIONS.

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

SECTION    1.    Article 3, Chapter 37, Title 12 of the 1976 Code is amended by adding:

"Section 12-37-227.        The assessment ratio on a residence which an owner maintains for a parent who occupies it as their principal residence shall be four percent. All other provisions relating to the qualifications for a four percent assessment ratio continue to apply to such property, mutatis mutandis. The provisions of this section apply whether or not the owner has his own principal residence which is assessed at a ratio of four percent and shall be construed as providing an ad valorem property tax exemption from the amount of any property tax increase resulting from the assessment ratio increasing from four percent to six percent and not as providing a change in assessment ratio."

SECTION    2.    This act takes effect upon approval by the Governor, and applies beginning with the calendar year 2010.

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This web page was last updated on Monday, October 10, 2011 at 12:24 P.M.