South Carolina General Assembly
121st Session, 2015-2016

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H. 3113

STATUS INFORMATION

General Bill
Sponsors: Reps. Mitchell and Cobb-Hunter
Document Path: l:\council\bills\nbd\11030cz15.docx

Introduced in the House on January 13, 2015
Introduced in the Senate on April 29, 2015
Currently residing in the Senate Committee on Labor, Commerce and Industry

Summary: Redevelopment project costs

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
  12/11/2014  House   Prefiled
  12/11/2014  House   Referred to Committee on Ways and Means
   1/13/2015  House   Introduced and read first time (House Journal-page 100)
   1/13/2015  House   Referred to Committee on Ways and Means 
                        (House Journal-page 100)
   4/23/2015  House   Committee report: Favorable Ways and Means 
                        (House Journal-page 125)
   4/28/2015  House   Read second time (House Journal-page 127)
   4/28/2015  House   Roll call Yeas-79  Nays-9 (House Journal-page 127)
   4/29/2015  House   Read third time and sent to Senate 
                        (House Journal-page 19)
   4/29/2015  Senate  Introduced and read first time (Senate Journal-page 6)
   4/29/2015  Senate  Referred to Committee on Labor, Commerce and Industry 
                        (Senate Journal-page 6)

View the latest legislative information at the website

VERSIONS OF THIS BILL

12/11/2014
4/23/2015

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

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COMMITTEE REPORT

April 23, 2015

H. 3113

Introduced by Reps. Mitchell and Cobb-Hunter

S. Printed 4/23/15--H.

Read the first time January 13, 2015.

            

THE COMMITTEE ON WAYS AND MEANS

To whom was referred a Bill (H. 3113) to amend Section 31-7-30, as amended, Code of Laws of South Carolina, 1976, relating to redevelopment project costs, so as to provide property assembly, etc., respectfully

REPORT:

That they have duly and carefully considered the same and recommend that the same do pass:

W. BRIAN WHITE for Committee.

            

STATEMENT OF ESTIMATED FISCAL IMPACT

Fiscal Impact Summary

The bill adds environmental remediation to the allowable uses of funds for tax increment financing but does not impact the generation of revenue and is not expected to impact local revenues.

Explanation of Fiscal Impact

Local Revenue

This bill would revise the list of qualifying redevelopment project costs for tax increment financing for counties in Title 31 Chapter 7 to include environmental remediation. Currently, the law specifies that redevelopment project costs include property assembly costs for acquisition of land and property, demolition of buildings, and the clearing and grading of land. The bill adds environmental remediation to the list of allowable costs. Since the bill revises the allowable uses of funds but does not impact the generation of revenue, it is not expected to impact local revenues.

Frank A. Rainwater, Executive Director

Revenue and Fiscal Affairs Office

A BILL

TO AMEND SECTION 31-7-30, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO REDEVELOPMENT PROJECT COSTS, SO AS TO PROVIDE PROPERTY ASSEMBLY COSTS ALSO INCLUDE THE COST OF ENVIRONMENTAL REMEDIATION.

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

SECTION    1.    Section 31-7-30(9)(b) of the 1976 Code is amended to read:

"(b)    property assembly costs including, but not limited to, acquisition of land and other property, real or personal, or rights or interest therein, demolition of buildings, environmental remediation, and the clearing and grading of land;"

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

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This web page was last updated on May 5, 2015 at 12:18 PM