South Carolina General Assembly
118th Session, 2009-2010

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H. 4467

STATUS INFORMATION

General Bill
Sponsors: Rep. Bowers
Document Path: l:\council\bills\ggs\22468sd10.docx

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

Summary: Property taxes

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-6
   1/28/2010  House   Referred to Committee on Ways and Means HJ-7

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 5-7-65 SO AS TO PROVIDE THAT ALL MUNICIPAL AD VALOREM PROPERTY TAXES WHICH WOULD OTHERWISE BE IMPOSED ON NEW IMPROVEMENTS TO REAL PROPERTY LOCATED IN A PRESERVATION DISTRICT ESTABLISHED BY A MUNICIPALITY OF THIS STATE WITHIN ITS CORPORATE LIMITS ARE ABATED FOR A PERIOD OF FIVE CALENDAR YEARS BEGINNING WITH THE FIRST DAY OF JANUARY AFTER THE ESTABLISHMENT OF THE DISTRICT, AND TO PROVIDE THAT A MUNICIPALITY WITHIN ITS GENERAL AUTHORITY IS PERMITTED BY ORDINANCE TO ESTABLISH SUCH DISTRICTS IN THE MANNER AND UNDER THE TERMS AND CONDITIONS IT CONSIDERS APPROPRIATE.

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

SECTION    1.    Chapter 7, Title 5 of the 1976 Code is amended by adding:

"Section 5-7-65.    All municipal ad valorem property taxes which would otherwise be imposed on new improvements to real property located in a preservation district established by a municipality of this State within its corporate limits are abated for a period of five calendar years beginning with the first day of January after the establishment of the district. The abatement of municipal ad valorem property taxes provided in this section is considered a property tax exemption. A municipality within its general authority is permitted by ordinance to establish such districts in the manner and under the terms and conditions it considers appropriate."

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

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