S*424 Session 108 (1989-1990)
S*0424(Rat #0215, Act #0139 of 1989) General Bill, By P.B. McLeod, Matthews and
J.M. Waddell
A Bill to amend the Code of Laws of South Carolina, 1976, by adding Section
4-1-170 so as to provide that counties jointly developing an industrial park
pursuant to Section 13, Article VIII of the Constitution of South Carolina,
1895, shall include expense sharing and percentage allocation and distribution
of revenue in their written agreement and that allocations for purposes of
limitations on bonded indebtedness and the index of taxpaying ability must be
identical to the revenue percentage allocation; to amend the 1976 Code by
adding Section 4-9-25, so as to confer additional powers on county governing
bodies; and to amend Section 12-7-1220, as amended, relating to the targeted
jobs' tax credit, so as to provide an additional annual corporate income tax
credit equal to five hundred dollars for five years for each new full-time job
created in a business or industrial park jointly developed by a group of
counties.-amended title
02/23/89 Senate Introduced and read first time SJ-11
02/23/89 Senate Referred to Committee on Finance SJ-12
03/15/89 Senate Committee report: Favorable Finance SJ-14
03/16/89 Senate Read second time SJ-17
03/22/89 Senate Read third time and sent to House SJ-6
03/23/89 House Introduced and read first time HJ-8
03/23/89 House Referred to Committee on Ways and Means HJ-8
04/25/89 House Committee report: Favorable with amendment Ways
and Means HJ-203
05/09/89 House Amended HJ-32
05/09/89 House Read second time HJ-33
05/10/89 House Read third time and returned to Senate with
amendments HJ-24
05/11/89 Senate House amendment amended SJ-12
05/11/89 Senate Returned to House with amendments SJ-13
05/25/89 House Concurred in Senate amendment and enrolled HJ-68
06/02/89 Ratified R 215
06/06/89 Signed By Governor
06/06/89 Effective date 06/06/89
06/06/89 Act No. 139
06/14/89 Copies available
(A139, R215, S424)
AN ACT TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION
4-1-170 SO AS TO PROVIDE THAT COUNTIES JOINTLY DEVELOPING AN INDUSTRIAL PARK
PURSUANT TO SECTION 13, ARTICLE VIII OF THE CONSTITUTION OF SOUTH CAROLINA, 1895,
SHALL INCLUDE EXPENSE SHARING AND PERCENTAGE ALLOCATION AND DISTRIBUTION OF
REVENUE IN THEIR WRITTEN AGREEMENT AND THAT ALLOCATIONS FOR PURPOSES OF
LIMITATIONS ON BONDED INDEBTEDNESS AND THE INDEX OF TAXPAYING ABILITY MUST BE
IDENTICAL TO THE REVENUE PERCENTAGE ALLOCATION; TO AMEND THE 1976 CODE BY ADDING
SECTION 4-9-25, SO AS TO CONFER ADDITIONAL POWERS ON COUNTY GOVERNING BODIES; AND
TO AMEND SECTION 12-7-1220, AS AMENDED, RELATING TO THE TARGETED JOBS' TAX
CREDIT, SO AS TO PROVIDE AN ADDITIONAL ANNUAL CORPORATE INCOME TAX CREDIT EQUAL
TO FIVE HUNDRED DOLLARS FOR FIVE YEARS FOR EACH NEW FULL-TIME JOB CREATED IN A
BUSINESS OR INDUSTRIAL PARK JOINTLY DEVELOPED BY A GROUP OF COUNTIES.
Be it enacted by the General Assembly of the State of South Carolina:
Joint development authorized
SECTION 1. Chapter 1, Title 4 of the 1976 Code is amended by adding:
"Section 4-1-170. By written agreement, counties may develop jointly an
industrial or business park with other counties within the geographical
boundaries of one or more of the member counties as provided in Section 13 of
Article VIII of the Constitution of this State. The written agreement entered
into by the participating counties must include provisions which:
(1) address sharing expenses of the park;
(2) specify by percentage the revenue to be allocated to each county;
(3) specify the manner in which revenue must be distributed to each of the
taxing entities within each of the participating counties.
For the purpose of bonded indebtedness limitation and for the purpose of
computing the index of taxpaying ability pursuant to Section 59-20-20(3),
allocation of the assessed value of property within the park to the participating
counties must be identical to the percentage utilized for the allocation of
revenue to each of the counties."
Income tax credit allowed
SECTION 2. (1) Subsection (E) of Section 12-7-1220 of the 1976 Code is amended
to read:
"(E) Tax credits for five years for the taxes imposed by Section 12-7-230
must be awarded for additional new full-time jobs created by business enterprises
qualified under subsections (B), (C), (D), and (H) of this section. Additional
new full-time jobs must be determined by subtracting highest total employment of
the business enterprise during years two through six, or whatever portion of year
two through six completed, from the total increased employment. The commission
shall adjust the credit allowed in the event of employment fluctuations during
the additional five years of credit."
(2) Section 12-7-1220 of the 1976 Code is amended by adding a new subsection
(H) to read:
"(H) Permanent business enterprises engaged in manufacturing, processing,
warehousing, wholesaling, research and development, and service-related
industries in a business or industrial park jointly established and developed by
a group of counties pursuant to Section 13 of Article VIII of the Constitution
of this State are allowed an additional job tax credit for taxes imposed by
Section 12-7-230, which is in addition to those job tax credits already
authorized by this section, equal to five hundred dollars annually for each new
full-time employee job for five years beginning with years two through six after
the creation of the job. The number of new full-time jobs must be determined by
comparing the monthly average number of full-time employees subject to South
Carolina income tax withholding for the taxable year with the corresponding
period of the prior taxable year. The limitations and conditions contained in
subsections (E), (F), and (G) of this section also apply to the additional job
tax credit authorized by this subsection (H).
Notwithstanding which of the participating counties where the permanent
business is located, for purposes of the regular job tax credits authorized by
subsections (B), (C), and (D) of this section, the participating county which
would qualify for the greatest dollar amount of job tax credit is the county the
permanent business enterprise is deemed to be located in regardless of whether
or not it is actually located in another participating county."
Powers of counties
SECTION 3. The 1976 Code is amended by adding:
"Section 4-9-25. All counties of the State, in addition to the powers
conferred to their specific form of government, have authority to enact
regulations, resolutions, and ordinances, not inconsistent with the Constitution
and general law of this State, including the exercise of these powers in relation
to health and order in counties or respecting any subject as appears to them
necessary and proper for the security, general welfare, and convenience of
counties or for preserving health, peace, order, and good government in them.
The powers of a county must be liberally construed in favor of the county and the
specific mention of particular powers may not be construed as limiting in any
manner the general powers of counties."
Time effective
SECTION 4. This act takes effect upon approval by the Governor. |